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News: TomTom Reports Euro 33m Loss for Q1 2009

pocketgpsworld.comTomToms First Quarter results for 2009 were published yesterday and they make grim reading for the troubled Dutch company.

Total revenue was Euro 213m, down 31% on the Euro 317m revenue in the same period on 2008 and Euro 528m for the last quarter of 2008.

This is the first time TomTom have reported a loss and comes despite TomTom having reduced operating expenses by 30%. With debt increased to Euro 1,159m (up 50m since Q4 2008) TomTom still has a long way to go before it can attain the healthy balance sheets it used to enjoy.

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Posted on Thursday, April 23 @ 09:23:50 UTC by Darren Griffin

 
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