TomTom Q1: increased market share in Europe and US



TomTom Q1: increased market share in Europe and US
TomTom announced its financial results for the first quarter 2007. This quarter TomTom has strengthened its European and North American market shares to 52% and 25% respectively (compares to 50% and 20% at the end of 2006).

First quarter financial highlights (Compared with Q1 2006):
• Revenue increased by 16% to €296 million
• Revenue in North America increased by 121%
• 1.3 million portable navigation devices (PNDs) shipped, up 75%
• Gross margin increased by 5 percentage points to 40%
• Operating margin of 19.1% compared with 19.6%
• Net profit increased by 42% to €44 million
• Fully diluted EPS increased by 37% to €0.37

TomTom re-iterate its full year guidance. The company estimates it will deliver revenues of between €1.6 billion and €1.8 billion, a gross margin of around 40% of revenue and an operating margin of around 20% of revenue.


Thursday, April 26th 2007

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