TomTom Q4 lifted by tax gains, sees sharp drop in 2013

AMSTERDAM Tue Feb 12, 2013 1:48am EST

AMSTERDAM Feb 12 (Reuters) - Dutch digital map company TomTom on Tuesday reported better-than-expected fourth-quarter results bolstered by a one-off tax gain, but forecast a drop in revenue and earnings per share this year.

TomTom reported quarterly net profit of 99 million euros ($132.5 million), lifted by a tax gain of about 80 million euros, on revenue of 289 million euros.

Analysts polled by Reuters had forecast fourth-quarter net profit of 7.95 million euros on sales of 284 million euros.

TomTom forecast 2013 revenue would be in the range of 900 to 950 million euros, down from 1.06 billion euros in 2012. It said it expected adjusted earnings per share of around 0.20 euros this year, down 50 percent from the 2012 EPS of 0.40 euros.