TeleNav Q2 2012 Revenue Up 11%

Long term financial outlook linked to Sprint contract renegotiation
During the conference call TeleNav explained that it would not provide financial guidance for the whole year because of the current renegotiation of their contract with Sprint. The contract expires as of December 31, 2012, however Sprint may terminate the obligations related to Telenav's bundled navigation services beginning July1, 2012, with 30 days prior notice to Telenav.

TeleNav nevertheless gave guidance for the third fiscal quarter ending March 31, 2012. For that quarter the total revenue is expected to be $52 to $54 million and revenue from strategic growth areas and international is expected to be in the range of $13-$14 million. the GAAP net income is expected to be $5 to $6 million and GAAP diluted net income per share is expected to be $0.11 to $0.13.