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You can still use the serial port control. Configure the properties for the port, open it, and read the data into a string on a timed interval then parse the string to get the information you need from it.
/// <summary>
/// Try to update present position if the port is configured correctly
/// and the GPS device is returning values
/// </summary>
/// <param name="sender"></param>
/// <param name="e"></param>
private void timer1_Tick(object sender, EventArgs e)
{
if (serialPort1.IsOpen)
{
string data = serialPort1.ReadExisting();