TomTom reports first quarter 2011 results

Financial highlights Q1 2011

  • Revenue of €265 million compared to €268 million in Q1 2010
  • Automotive revenue grew by 53% to €60 million
  • Content and services grew to 36% of total revenue
  • Gross margin of 53% and EBIT margin of 7%
  • Net result of €11 million compared to €3 million in Q1 2010
  • New banking facilities in place until 2016

Operational highlights Q1 2011

  • LIVE Services announced and new models launched in US
  • Nike+ SportWatch GPS well received
  • First LIVE Services subscriptions sold by OEM customers
  • Blue&Me TomTom LIVE extended to the Lancia Ypsilon
  • Traffic Stats portal launched for the GIS market
  • 5" (13 cm) PRO range launched for the professional market

Outlook full year 2011

  • Revenue guidance reduced to between €1,425 and 1,475 million
  • EPS guidance unchanged; broadly flat EPS compared to 2010


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1For the outlook on earnings per share for 2011 we used an estimate of the average diluted share count of 226 million shares
2Operating expenses include restructuring charges of €0.6 million in Q1 2011, €1.4 million in Q1 2010 and €1.3 million in Q4 2010

View the full TomTom first quarter 2011 results release in PDF format

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