Garmin - GRMN STOCK NEWS

Garmin Ltd. (NASDAQ: GRMN) has acquired the assets of GEOS Worldwide Limited, a leader in emergency monitoring and incident response services. This acquisition enhances Garmin's inReach® personal satellite communicators' SOS response capabilities via the International Emergency Response Coordination Center (IERCC). Since 2007, IERCC has managed over 83,000 emergencies, including 5,000 from Garmin users. The financial terms remain undisclosed. Garmin aims to improve safety for its customers through this strategic acquisition, leveraging GEOS's expertise to continue providing top-tier emergency services.

Garmin International has announced that its FltPlan.com platform has integrated runway analysis service from AeroData. This feature allows pilots to calculate performance data during flight planning, streamlining the process and improving accuracy. AeroData serves over 135 airlines and now extends its offerings to business aviation, enabling tailored performance calculations and obstacle clearance procedures. Key benefits include time savings, maximized aircraft performance, and automatic fuel load calculations. This integration aims to enhance operational safety and efficiency for pilots in business aviation.

Garmin International, a subsidiary of Garmin Ltd. (NASDAQ:GRMN), announced enhancements to the GFC 600 autopilot system, adding Smart Rudder Bias for select piston twin-engine aircraft. This feature assists pilots during one-engine inoperative (OEI) events, reducing workload and enhancing control. The GFC 600 also received STC approval for the Piper PA-31, broadening its compatible aircraft. These upgrades improve aircraft safety and performance, allowing for quicker identification of engine issues and better handling in critical flight situations.

Garmin International announced that its Autoland system received a 2020 Best of What’s New Award from Popular Science in the Aerospace category. Recognized for its groundbreaking innovation, Autoland can safely land aircraft autonomously in emergencies, ensuring passenger safety. The system, integrated into the G3000 flight deck, has received FAA certification for multiple aircraft types and is set to be deployed across over 100 aircraft by the end of 2020. This achievement underscores Garmin's commitment to aviation safety and technological advancement.

Garmin International has launched the Signature Series 3 Wake Tower Speakers, enhancing its marine electronics lineup. These speakers offer a wide range of color variations using CRGBW LEDs, delivering premium audio performance specifically optimized for wakeboats. With sizes ranging from 6.5 to 8.8 inches and a price range of $699.99 to $1449.99, they feature an IP65 rating for protection against harsh marine environments. The products are backed by a three-year consumer warranty, supporting Garmin's commitment to quality and innovation in marine audio solutions.

Garmin Ltd. (NASDAQ: GRMN) has announced a dividend installment of $0.61 per share, payable on December 31, 2020, with a record date of December 15, 2020. This payment is part of a total approved cash dividend of $2.44 per share, to be distributed in four equal installments. The first two payments were made on June 30 and September 30, 2020. The next scheduled payment is anticipated to be on March 31, 2021, subject to confirmation from the Board. The dividend reflects Garmin's commitment to returning value to shareholders.

Garmin has announced the availability of the G1000 NXi flight deck for integration with the Blackhawk XP67A Engine+ Upgrade for King Air 300 and 350 models. This upgrade enhances aircraft performance, allowing for maximum cruise speeds of up to 343 knots and a climb rate of 4,000 feet per minute. The G1000 NXi is now certified for King Air 350 with a max gross weight of 16,500 lbs, significantly benefiting operators, especially for special missions. The integrated upgrade can be completed with minimal downtime and offers a two-year warranty.

Garmin has launched a new pregnancy tracking feature in its Garmin Connect app, aimed at providing insights for expectant mothers. This feature allows users to log pregnancy symptoms, track baby movements, and receive personalized health recommendations. Major functionalities include a pregnancy timeline, heart rate monitoring during workouts, and customized reminders. The tool is available on popular Garmin devices, reinforcing Garmin's commitment to enhancing women's health technology.

Garmin Ltd. (GRMN) reported third-quarter 2020 results with total revenue exceeding $1.1 billion, a 19% year-over-year growth. Key growth drivers were marine (54% increase), fitness (35%), and outdoor (30%) segments. Gross margin was 60.2% and operating margin 28.6%, leading to operating income of $317 million, up 21%. GAAP diluted EPS reached $1.63, representing a 37% increase. The company expects full-year 2020 revenue around $4.0 billion and pro forma EPS of $4.70.