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Joined: Jul 21, 2004 Posts: 2718 Location: Chelmsford, UK
Posted: Thu Jul 23, 2009 10:07 am Post subject: TomTom Beats 2nd Quarter Forecasts
TomTom have posted a 19.8 million second quarter profit - a 61% fall compared to the same period last year. Although clearly a sharp decline, this still wasn't as bad as some analysts had expected and TomTom's shares surged on the news.
Group revenue was 368 million for the quarter, an increase on the first quarter's 213 million, but a decrease on last year's quarter 2 of 485 million.
There was a sharp decline in dedicated units as expected.
Q2 PND Sales 2009: 276 million representing 75% of group revenue in the quarter
Q2 PND Sales 2008: 402 million (83%)
Q1 PND Sales 2009: 141 million and (66%)
The news of lower PND sales were softened by higher sales in other areas such as in-dash navigation, traffic information, and fleet management.
TomToms's second quarter operational highlights included TeleAtlas's HD Traffic introduced into mid range PNDs, the start of volume shipments of their first line-fitted car navigation product with Renault and 50% of PNDs sold with IQ Routes technology.
They also report that operating expenses have been reduced by 18% year-on-year; almost half centred on research and development and marketing. They further increased their recent 60 million cost-cutting exercise to 90 million yesterday.
TomToms Chief Executive Officer, Harold Goddijn acknowledges challenging market conditions, but remains upbeat "In the second quarter we delivered strong profitability and cash generation driven by new products, the expected seasonal uplift in PND sales and tight management of costs and working capital. In recent weeks we have successfully raised capital to substantially strengthen our balance sheet."
Joined: Feb 16, 2008 Posts: 695 Location: Florida, USA
Posted: Thu Jul 23, 2009 8:52 pm Post subject:
The news that came as a total surprise to me was the very small percentage of sales coming from Live devices. Total worldwide sales to date of 940's, 740's and XL Live's? A paltry 100,000, against TomTom's stated goal of 1 million connected pnd's by year's end. Of course there is still 5 month's to go _________________ Garmin 1695 / 255 / 760 w/MSN - Droid w/Google nav + Navigon - Navigon 8100T - Dakota10 - GPSMap76C - GeoMate Jr.
Joined: 05/01/2003 10:51:57 Posts: 118 Location: United Kingdom
Posted: Fri Jul 24, 2009 4:00 pm Post subject:
Oh dear, i wonder if this will spur them onto releasing tomtom7/8 etc for PPC devices. Including those running wm2003 which is easily capable of running any version of tomtom, albeit feature restricted.
It **must* generate sales.....and income..
Posted: Today Post subject: Pocket GPS Advertising
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