AMSTERDAM, April 23 TomTom, Europe's
largest maker of navigation devices and among the three biggest
digital map-makers in the world, said it sees no sign of a
recovery in car sales to which its own fortunes are tied.
The Dutch company stuck to the full-year forecasts it gave
in February for adjusted earnings per share of about 0.20 euros,
down 50 percent from the 2012 EPS of 0.40 euros, and revenue in
the range of 900 million euros to 950 million euros, down from
1.06 billion euros in 2012.
"It's a tough marketplace," Chief Executive Harold Goddijn
told reporters on a conference call, pointing to a continuing
decline in car sales in Europe.
"Sales in the first quarter were again down. And that comes
after a dreadfully bad 2012 so the suffering is ongoing."
TomTom's fortunes are closely linked to those of customers
such as PSA Peugeot Citroen, Renault, and
Fiat, which have been hit by weak consumer demand.
European car sales fell 10.3 percent in March, as an
unrelenting market contraction spread to the region's more
On Tuesday, TomTom reported a quarterly net loss of 2
million euros, unchanged from a year ago, and revenue of 202
million euros, down 13 percent.
Analysts in a poll commissioned by Reuters had expected a
first-quarter net loss of 5.85 million euros on revenue of 203