BRUSSELS, April 29 Dutch navigation equipment
maker TomTom on Tuesday increased its outlook for
2014, boosted by stronger-than-expected results in the first
quarter and a one-off tax settlement.
TomTom said it now expected revenues in 2014 to reach at
least 900 million euros ($1.25 billion), up from an earlier
guidance of around 900 million.
It said earnings per share would be about 0.25 euros
compared with an earlier guidance of 0.20 euros, boosted by a
one-off tax settlement of 0.04 euros per share.
All units, except for its licensing unit which sells maps
and traffic data to third party developers, showed an improved
revenue in the first quarter.
TomTom said that in the consumer unit, which makes
navigation devices for motorists and runners, its new GPS sports
watches appeared to be selling well.
Net profit in the first quarter was 7.6 million euros, above
the 5.5 million expected in a Reuters poll of three analysts.
The group posted a 2.2 million euro loss in the same period last
($1 = 0.7223 Euros)
(Reporting by Robert-Jan Bartunek)