Navigation and mapping products maker TomTom NV (TMOAF.PK) reported that its profit attributable to equity holders of the parent for the second-quarter fell to 2.63 million euros from the previous year's 8.85 million euros, with earnings per share declining to 0.01 euros from 0.04 euros last year.
Adjusted earnings per share was 0.05 euros, down from 0.08 euros in the prior year.
But, revenue for the quarter grew to 264.61 million euros from 251.95 million euros in the previous year.
The company re-iterated its guidance for revenue and adjusted earnings per share for the full year 2015. It expects revenue to grow to around 1 billion euros, and adjusted earnings per share is expected of around 0.20 euros. It now expects the level of investment (both CAPEX and OPEX) in its core technologies to be modestly higher than last year.
In a separate press release, TomTom announced the appointment of Taco Titulaer (43) as the company's new Chief Financial Officer, effective as of 1 August 2015.
Taco Titulaer will succeed Marina Wyatt, who is leaving the company at the end of July. He joined TomTom in 2005 and since then has held several management positions in Group Control, Treasury, Mergers & Acquisitions and Investor Relations.
Before joining TomTom, Taco Titulaer, a Dutch national, spent eight years in KPN in various management roles in Finance and Investor Relations. He is based at the company's headquarters in Amsterdam, The Netherlands.
Taco Titulaer will be nominated for appointment to TomTom's Management Board at an Extraordinary General Meeting to be convened in the near future.
For comments and feedback contact: editorial@rttnews.com
Business News