Hi! We see you’re using an ad-blocker. We’re fine with that and won’t stop you visiting the site.
But as we’re losing ad-revenue from this then why not make a donation towards website running costs?. Or you could disable your ad-blocker for this site. We think you’ll find our adverts are not overbearing!
Joined: 20/08/2002 11:51:57 Posts: 3859 Location: Essex, UK
Posted: Mon May 01, 2006 12:01 pm Post subject: Navteq repoerts record Revenue
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.
Joined: Jun 20, 2005 Posts: 181 Location: Kentucky
Posted: Thu May 04, 2006 3:13 pm Post subject:
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.
Posted: Today Post subject: Pocket GPS Advertising
We see you’re using an ad-blocker. We’re fine with that and won’t stop you visiting the site.
Have you considered making a donation towards website running costs?. Or you could disable your ad-blocker for this site. We think you’ll find our adverts are not overbearing!
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
Or you could disable your ad-blocker for this site. We think you’ll find our adverts are not overbearing!
Hi! We see you’re using an ad-blocker. We’re fine with that and won’t stop you visiting the site.
But as we’re losing ad-revenue from this then why not make a donation towards website running costs?. Or you could disable your ad-blocker for this site. We think you’ll find our adverts are not overbearing!
Forum FAQ
Search
Usergroups
Profile
Log in for private messages
Log in
