uit Garmin analisten call finance.yahoo.com/news/edited-transcr...
"Looking finally at the auto segment. Revenue decreased 19% for the full year due to the ongoing decline of the PND market and lower auto OEM sales, driven by program timing. Gross and operating margins were 43% and 6%, respectively. Our global PND market share remains very strong. And at the recent Consumer Electronics Show, we announced our new Drive PNDs with simplified road trip-ready features. In the OEM category, we were awarded new business that will contribute starting in 2020. Looking at 2019, we anticipate revenue will decrease approximately 18%, driven by the ongoing decline of the PND market as well softness in OEM due to program timing mentioned earlier."
Charles Lowell Anderson, Dougherty & Company LLC, Research Division - VP and Senior Research Analyst [16]:
Cliff, I wanted to start with a question on auto. So PND continued its current rate of decline, which looks like it's in kind of the low 20% range. I realize that you have some program timing that's impacting OEM right now. But you do have BMW, Geely and others coming in later. I think you've also referenced in the past that you have some unannounced wins. I wonder how should we think about that business over the next few years. Is there a point at which it stabilizes or even grows? And then I've got a follow-up.
Clifton Albert Pemble, Garmin Ltd. - President, CEO & Director [17]
Yes, we believe there's a plan. We're definitely -- we'll stabilize and grow