Navteq 3Q earnings, revenue top Wall Street estimates |
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Wed, 31 Oct 2007 22:10
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SAN FRANCISCO (Thomson Financial) - Navteq Corp. after Wednesday's closing bell reported third-quarter operating income of $50.5 million, up from $37 million during the year earlier.The Chicago-based provider of digital map data for vehicle navigation posted net earnings of $39.9 million, or 40 cents a share, compared with $27.1 million, or 28 cents a share, last year.The mean estimate of analysts polled by Thomson Financial was for a per-share profit of 30 cents.Total net revenue came in at $214.8 million, ahead of the consensus estimate of $193.9 million. Last year, revenue was $142.7 million.Additionally, Navteq said it's revising its fiscal 2007 outlook primarily as a result of its strong year-to-date performance, increased expectations for growth in maps for portable devices, and the favorable impact of the stronger euro.The company said it now expects per-share earnings of $1.50 to $1.55 on revenue of $815 million to $825 million for the year.Navteq shares closed the regular session up 93 cents, or more than 1%, at $77.20.Katherine Huntkh/gmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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