TomTom Turns a Profit in Q4; Sees Little Impact from Phone Apps
Among the factoids:
“TomTom (NL:TOM2 5.74, +0.31, +5.69%) said it earned 73 million euros ($99 million) after losing 989 million euros in the prior-year period, when it took a 1.05 billion euro hit from writing down the value of the TeleAtlas [sic] mapping service it acquired.”
“TeleAtlas [sic] revenue fell 8% to 50 million euros as demand for map licenses fell 10%.”
CEO Harold Goddijn:
“We see limited impact from this [map apps on phones] on our current revenue streams from PNDs, automotive and fleet management. The demand for applications that use location will grow across all markets and all geographies, and we see new opportunities for partnerships and business models, particularly in the mobile space.”
by Adena Schutzberg on 02/18 at 08:42 AM |
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