NEW YORK-Research In Motion Ltd. and Garmin Ltd. announced they will be added to the Nasdaq-100 index, and their shares will be included in the Nasdaq-100 Index Tracking Stock.
Garmin, which designs and manufactures global positioning system products, said it enjoyed a compounded annual revenue growth rate of 23 percent across its two business segments, aviation and consumer.
“We are honored that Nasdaq has chosen to add Garmin to the Nasdaq-100 Index,” said Dr. Min H. Kao, chief executive officer and co-chairman of Garmin. “Today’s news is a story more about our dedicated associates, loyal customers and faithful shareholders who have made this company successful. It is truly an honor to be recognized among the world’s leading growth companies.”
Launched in 1985, the Nasdaq-100 Index comprises 100 of the largest U.S.-based and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.
