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TomTom Posts Sequential PND Share Gain In North America

Amsterdam, The Netherlands — First-quarter retail-level sales of PNDs fell 24 percent to 800,000 units in North America compared with the year-ago period, with TomTom holding an estimated 19 percent share, down from a year-ago 23 percent share but up from a fourth-quarter share of 15 percent, the company reported.

In 2013, industrywide retail-level PND sales in North American fell 26 percent to 5.4 million units, TomTom previously said.

In reporting its financial results, TomTom said its first-quarter revenues rose 2 percent to 205.4 million euros compared with the year-ago period, and net income hit 7.6 million euros compared with a year-ago loss of 2.2 million euros. The gain in net income, however, was the result of a one-time income-tax settlement of 8.1 million euros.

Operating income rose to 1.5 million euros compared with a year-ago 48,000 euros.

The company’s operating margin rose to 1 percent from the year-ago 0 percent but was below the 3 percent, 6 percent and 2 percent posted in the second, third and fourth quarters, respectively, of last year.

In consumer products, including PNDs and wearables, the company’s global sales rose 1 percent to 125 million euros, while automotive sales rose 1 percent to 29 million euros, telematics revenues rose 29 percent to 25 million euros, and licensing revenues dropped 12 percent to 26 million euros.

In the fourth quarter, TomTom’s overall sales fell 7 percent, and for the full year, company sales were off 9 percent. Net profits fell in the fourth quarter and were off for the full year, by 84 percent to 20 million euros.

The company returned to profitability in 2012 with a net profit of 129.2 million euros after a 2011 net loss of 439 million euros.