NAVTEQ Earnings up 47%
NAVTEQ announced solid earnings growth related to the strong performance of GPS system growth. Sales were up 51% to $214.8 million, and net earnings were up 47% versus year ago. Big jumps for the map maker that supplies maps to Garmin and others. Recall that Nokia has announced plans to acquire NAVTEQ while Garmin and TomTom appear to be in a bidding war for the smaller and less profitable rival, TeleAtlas.
Always interesting; stay tuned.
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Posted by Scott Martin at November 2, 2007 12:29 PM
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