Conference Call Transcripts - Garmin and Cognizant Tech

Here's a link to Garmin's Conference Call Transcript. Garmin makes personal navigation devices, and reported some very strong results, and are hinting at what sound to me like run-away product demand.

Some Highlights.
- Revenue up 72%
- Unit Volume up 99%
- Automotive Unit Volume up @173% is driving unit volume results.
- margins higher than expected
- unit price decreases being offset by component price decreases, although expect margin compression in last half of year due to spike in flash memory prices.
- market seems to be growing faster than they thought.
- sounds like they expect eventually over time 40%-60% of cars to have a navigation device.

Here's a link to Cognizant Technology's Transcript also. Strong quarter there too. Europe is clearly a focus for growth going forward. They don't see capacity constraints being too much of an issue, especially not the employee count constraints so often mentioned in analysis. They feel like they have excess capacity built into their business model already.