TomTom Sales up; Could have Been Higher
TomTom released strong earnings yesterday marred a bit by a component shortage this quarter hat hampered their sales of the new TomTom GO line of GPS units. Their revenue increased to 277 Euros up 141% over the same quarter last year, in doing so they shipped 830,000 units, up 216% over same quarter last year. Their gross margins are around 43%.
Highlights from the quarter include the continued strong share of the European market at a claimed 53% of the market. More after the jump.....
They also mention that they have increased their share of the North American Market to 27% as measured by NPD. This was driven by an increase in stored selling TomTom GO’s in the US, to 11,000 stores in the quarter.
See our article about the 1st quarter results for TomTom.
See our article on the component shortage for TomTom.
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Read More in: Earnings Announcements | TomTom GPS News
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Posted by Scott Martin at July 26, 2006 11:06 AM