UPDATE 1-Garmin's Q4 on track, eyeing acquisitions

miércoles 9 de diciembre de 2009 21:46 CET

* Says Q4 in-line with expectations so far

* Says evaluating acquisition opportunities

* Sees 2010 unit sales up 10 pct, selling prices down 10 pct

* Plans further launch of nuvifone products

* Shares rise 5 pct

By Savio D'Souza

BANGALORE, Dec 9 (Reuters) - Top U.S. navigation device maker Garmin (GRMN.O: Cotización) said its fourth quarter through Black Friday was in line with expectations in terms of margins, the number of units sold and the selling price per unit, sending its shares up about 5 percent.

"We did not go down to the very low price point ... and elected to let some of the low-end units go to competitors because we wanted to make reasonable margins," Garmin Chief Financial Officer Kevin Rauckman said at a Barclays investor conference on Wednesday.

Early last month, Garmin's forecast for a weak holiday quarter had reignited concerns about the long-term survival prospects of the personal navigation device (PND) market and sent its shares tumbling. [ID:nBNG490338]   Continuación...