Home PageFacebookRSS News Feed
PocketGPS
Web
Read the current newsletter! Weekly
Newsletter
SatNav,GPS,Navigation
Pocket GPS World - SatNavs | GPS | Speed Cameras: Forums

Pocket GPS World :: View topic - Navteq repoerts record Revenue
 Forum FAQForum FAQ   SearchSearch   UsergroupsUsergroups   ProfileProfile   Log in for private messagesLog in for private messages   Log inLog in 

Navteq repoerts record Revenue

 
Post new topic   Reply to topic    Pocket GPS World Forum Index -> NAVTEQ Digital Map Data
View previous topic :: View next topic  
Author Message
MikeB
Pocket GPS Staff
Pocket GPS Staff


Joined: 20/08/2002 11:51:57
Posts: 3859
Location: Essex, UK

PostPosted: Mon May 01, 2006 12:01 pm    Post subject: Navteq repoerts record Revenue Reply with quote

Navteq press release wrote:
NAVTEQ Reports Record First Quarter Revenue

Chicago, IL – April 26, 2006 – NAVTEQ Corporation (NYSE: NVT), a leading global provider of digital map data for vehicle navigation and location-based solutions, today reported record first quarter revenue for the quarter ended April 2, 2006.

Revenue in the quarter rose 17% over the first quarter of 2005 to $122.3 million. Operating income was $20.7 million, compared to $24.8 million in last year’s first quarter. Net income was $16.2 million, compared to $16.8 million in the prior year’s first quarter. Earnings per diluted share were $0.17, compared to $0.18 in the first quarter of 2005.

"We were pleased with our first quarter results, which were in line with our expectations. Consumer demand for GPS technologies is growing rapidly around the world and we are optimistic about our prospects," said Judson Green, President and Chief Executive Officer. "We began the year by focusing our investment on the quality of our map data, the scope of our global coverage and the portfolio of unique content we offer to our customers."

Revenue from NAVTEQ’s Europe, Middle East & Africa (EMEA) operations totaled $76.6 million in the quarter, up 6% from $72.0 million in the first quarter of 2005. The average U.S. dollar/euro exchange rate in the first quarter was $1.20, compared to $1.32 in the prior year’s first three months. Excluding the impact of this foreign currency rate fluctuation, EMEA revenue for the first quarter grew 15%. Americas revenue was $43.9 million in the quarter, a 34% increase over the $32.7 million posted in the first quarter of 2005. Asia Pacific revenue, principally derived from the company’s Picture Map International subsidiary in South Korea acquired in July 2005, was $1.8 million.

Cash and marketable securities totaled $226.4 million at April 2, 2006. Net cash provided by operating activities for the first quarter was $14.4 million, compared to $5.8 million in the first quarter of 2005.

In accordance with FASB Statement No. 123(R) ("Share-Based Payment"), adopted by the company on January 1, 2006, additional stock-based compensation expense was recognized in the first quarter related to the full expensing of options. Total stock-based compensation expense in the quarter was $4.0 million, of which $2.2 million was related to the expensing of stock options. In addition, the company recognized a benefit to net income in the first quarter related to the cumulative effect of a change in accounting principle of $0.5 million, or $0.01 per diluted share, resulting from the adoption of FASB 123(R).

Early in 2006, the company conducted a review of the classification of its operating expenses for external reporting. As a result of this review, costs associated with certain functional groups historically classified as selling, general, and administrative expenses have been reclassified as database creation and distribution costs beginning in the first quarter of 2006. Operating expenses for previously reported periods have been reclassified to conform to this presentation. Total operating expenses were not affected by this reclassification. A supplemental schedule attached to this release, entitled "Reclassification of 2005 Quarterly Operating Expenses", summarizes the impact of this reclassification on 2005 quarterly operating expenses.

Earnings Call Information

The company will provide a telephone replay of the earnings release conference call at 888-286-8010 (North America) or 617-801-6888 (international), passcode 36547720. The telephone replay will be accessible from 7:00 PM ET Wednesday, April 26, 2006 through 11:59 PM ET on Wednesday, May 3, 2006. An on-demand replay of the conference call will also be available online at investor.navteq.com until May 26, 2006.

_________________
Mike Barrett
Editor, PocketGPSWorld.com
Back to top
View user's profile Send private message Visit poster's website
DavidHobbs
Regular Visitor


Joined: Jun 20, 2005
Posts: 181
Location: Kentucky

PostPosted: Thu May 04, 2006 3:13 pm    Post subject: Reply with quote

That surprises me a little. I thought Tele Atlas had a more dominant position in the mapping industry, given it's heavy association with 911 services and its relationship w/ Mapquest.
Back to top
View user's profile Send private message Visit poster's website







Posted: Today    Post subject: Pocket GPS Advertising

Back to top
Display posts from previous:   
Post new topic   Reply to topic    Pocket GPS World Forum Index -> NAVTEQ Digital Map Data All times are GMT + 1 Hour
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum

Powered by phpBB 2.0.11 © 2001 phpBB Group
phpBB port v2.1 based on Tom Nitzschner's phpbb2.0.6 upgraded to phpBB 2.0.4 standalone was developed and tested by:
ArtificialIntel, ChatServ, mikem,
sixonetonoffun and Paul Laudanski (aka Zhen-Xjell).

Version 2.1 by Nuke Cops © 2003 http://www.nukecops.com

Make a Donation



CamerAlert Database

Click here for the PocketGPSWorld.com Speed Camera Database

Download Speed Camera Database
19.114 (24 Nov 21)



WORLDWIDE SPEED CAMERA SPOTTERS WANTED!

Click here to submit camera positions to the PocketGPSWorld.com Speed Camera Database


12mth Subscriber memberships awarded every week for verified new camera reports!

Submit Speed Camera Locations Now


CamerAlert Apps



iOS QR Code






Android QR Code







© Terms & Privacy


GPS Shopping