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TomTom Takes Huge Financial Hit In Q1, Drops Yearly Earning Estimate

by Justin

Looks like Garmin isn’t the only GPS manufacturer hit hard by dropping prices and newcomers to the market, as TomTom has dropped its Q1 earnings estimates as well.Â TomTom has dropped its yearly earnings estimate from 2.2 billion Euros to 2.0 billion Euros with Q1 sales in the 270-280 million Euro range, down from 296 million Euros in Q1 a year ago.Â The company has also stated that operating margins will be in the single digits, much less than the impressive double digit margins it typically reports.

Via GPS LodgeÂ

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3 comments

1 GPS Obsessed » GPS Chipset Shipments Boast 26.8% Annual Compound Growth Rate To 2012; Revenues Expected To Plateau { 04.30.08 at 6:08 am }: [...] growth, revenues are expected to plateau, something that’s leading to the current problems at TomTom, SiRF and [...]
2 GPS Obsessed » ABI Research: GPS Devices Will Bring In $62 Billion By 2012 { 05.07.08 at 7:24 pm }: [...] agrees thoughi. ABI Research analyst Dominique Bonte says that disappointing earnings from SiRF, TomTom and other big names in the GPS market are nothing more than logical follow-ups to their [...]
3 GPS Obsessed » TomTom Gets Uncondition Permission To Buy TeleAtlas { 05.15.08 at 12:09 am }: [...] is definitely a big plus for TomTom who’s been hit hard in the books by falling PND prices as it’ll give them another potential revenue stream. Next under the [...]

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