TomTom reports second quarter 2011 results

TomTom’s Chief Executive Officer, Harold Goddijn:

“We have seen a decline of the PND market against a background of a weak consumer electronics market which impacted our Consumer business. On the other hand, sales by Automotive and Business Solutions grew as did our LIVE Services revenue.

Based on the outlook for the PND market, we will reduce our cost base in the coming quarters to maintain a healthy cash flow, whilst at the same time continuing to invest to support our growing revenue lines.”

1 Operating expenses include an impairment charge of €512 million and restructuring charges of €0.2 million in Q2 2011, €1.2 million in Q2 2010 and €0.6 million in Q1 2011
2 Excluding impairment charge and related tax effects
3 Earnings per share adjusted for impairment, acquisition-related amortisation and restructuring charges on a post tax basis

Outlook 2011

Consumer electronics markets have been weak and the retail channel has continued to reduce the level of inventory it is carrying. PND markets have been declining and we expect this trend to continue in the second half of the year. We expect our core combined PND markets to decline at the high end of the previously communicated range of between 15 and 20%, particularly as a result of a steep decline in the North American market.

Automotive will continue to grow its systems business as well as its licensing business as expected.

Business Solutions is expected to accelerate its growth in the second half of the year on the back of the roll-out of new contracts and geographical expansion.

Licensing is expected to show flat revenue development compared to last year.

We plan to deliver operating expenses for 2011 of approximately €540 million.

As previously communicated we expect full year revenue of between €1,225 and €1,275 million and earnings per share of between €0.25 and €0.30, excluding impairment.

Operational review

Revenue split

                     
(€ millions based on non-rounded figures)   Q2 '11   Q2 '10   y.o.y. change   Q1 '11   q.o.q. change
                     
Consumer   209   273   -23%   157   33%
Automotive 60 44 34% 60 -1%
Licensing 32 33 -3% 34 -7%
Business Solutions   14   12   12%   14   0%
                     
Hardware 218 274 -20% 169 29%
Content & Services   96   88   9%   96   0%

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14  Next Page »



Review Article Be the first to review this article


Featured Video
Jobs
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
GIS Analyst II for Air Worldwide at Boston, MA
Senior Structural Engineer for Design Everest at San Francisco, CA
Mechanical Engineer for IDEX Corporation at West Jordan,, UT
Upcoming Events
RoboUniverse San Diego at San Diego CA - Dec 14 - 15, 2016
DGI 2017 at QEII Centre London United Kingdom - Jan 23 - 25, 2017
Geospatial World Forum 2017 Hyderabad at Hyderabad International Convention Center P.O Bag 1101, Cyberabad Post Office Hyderabad Telangana India - Jan 23 - 25, 2017
Trimble
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy