TomTom Q1 in line with expectations; reiterates full year sales guidance |
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Published
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Wed, 25 Apr 2007 07:11
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AMSTERDAM (Thomson Financial) - TomTom NV reported weaker first quarter results broadly in line with expectations and reiterated its full year sales and margins guidance.The Dutch personal navigation device maker reported sales of 296 mln eur compared with 478 mln in the fourth quarter, in line with analysts expectations of 283.4-303.3 mln.Net profit was 44 mln eur compared with 80 mln in the traditionally strong fourth quarter, but slightly above analyst estimates of 40.8-42.3 mln.Operating profit was 57 mln compared with 126 mln in the previous quarter and in line with expectations of 53.8-57.9, while operating margin was 19.1 pct, down from 26.3 pct in the fourth quarter.TomTom reiterated its full year sales guidance of 1.6-1.8 bln eur in sales, gross margin of 40 pct and operating margin at 20 pct.Aaron Gray-Block; aaron.gray-block@thomson.comagb/lamCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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