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TomTom Reports First Quarter 2008 Results

Apr 23 2008

TomTom Reports First Quarter 2008 Results

First quarter financial highlights
• Revenue of €264 million compared to €296 million last year
• US revenue increased 133% year on year to €85 million
• Other revenue increased 45% year on year to €25 million
• Portable navigation device (PND) volume of 2.0 million; up 50% year on year
• Gross margin of 35% compared to 40% last year
• Net profit of €7.3 million; fully diluted EPS of €0.06

First quarter operational highlights
• Continued strong PND market growth of over 40% in Europe and over 100% in North America
• HD Traffic™ service announced in Germany, France and Switzerland
• TomTom community grew to over 5 million registered users
• IQ Routes™ technology launched
• New TomTom GO range shipping in April

Outlook 2008
• Continued strong growth of the European and North American PND markets; combined markets
expected to grow by more than 50% to 38 million units in 2008
• Revenue expectation for 2008 of between €1.8 billion and €2.0 billion
• PND unit forecast for 2008 of between 14 million and 15 million
• Targets for gross margin and operating margin for 2008 of close to 40% and 20% of revenue respectively

View the full First quarter results release 2008 in PDF format

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