Satnav maker TomTom beats forecasts
Thursday 18 February 2010
Satellite navigation systems maker TomTom beat analysts forecasts in the final quarter of 2009, turning in a 7% rise in net profit at €75m, excluding one-off items.
Over 2009 as a whole, revenue fell 15% and net profit was down 34%.
'The industry we operate in is going through substantial change. Increasingly, digital maps are being
deployed in the battle for mobile phone screens,' CEO Harold Goddijn said in a statement. ' We see limited impact from this on our current revenue streams.'
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