Second quarter financial highlights

Compared with Q2 2005

· Revenue increased by 141% to € 277 million
· 830,000 portable navigation devices (PNDs) shipped, up 216%
· Stable gross and operating margins of 43% and 23% respectively
· Net profit increased by 73% to € 38 million
· Fully diluted EPS improved by 60% to € 0.32

Compared with Q1 2006

· Revenue increased by 8%
· Gross margin up by 8 percentage points
· Operating margin increased by 3 percentage points
· Net profit increased by 21%

Half year financial highlights

Compared with H1 2005

· Revenue increased by 194% to € 533 million
· 1,593,000 PNDs shipped, up 330%
· Net profit increased by 92% to € 69 million
· Fully diluted EPS improved by 84% to € 0.59

Second quarter operational highlights

· PND market continues to grow strongly
· Strong European market leadership continues
· Production volumes of the new GO range now at planned levels, order book is strong
· Number of outlets in North America increased by 2,500 to 11,000
· Increased market share in North America to 27%
· TomTom WORK’s European roll out is on track

Outlook 2006
Full year 2006 guidance reiterated: revenues expected to be in the range of €1.1 billion to €1.3 billion and PND unit shipments expected to be between 3.6 million and 3.9 million units. We are targeting a gross margin of around 40% of revenue for the full year.

For the whole press release, please click on the link below.
Bron : TomTom