TomTom Reports First Quarter 2017 Results

Change percentages and totals calculated before rounding.

The net result for the quarter was a loss of €4.6 million compared with a gain of €4.8 million in Q1 '16. The net result adjusted for acquisition-related expenses & gains on a post-tax basis was a gain of €7.0 million compared with €7.9 million in Q1 '16.

Adjusted EPS for the quarter was €0.03, flat compared with the same quarter last year.

Balance sheet

At the end of the quarter, trade receivables plus other receivables totalled €188 million compared with €178 million at the end of Q1 '16. The inventory level at the end of the quarter was €63 million, compared with €57 million at the end of the same quarter last year. Cash and cash equivalents at the end of the quarter were €84 million versus €115 million at the end of Q1 '16.

Current liabilities excluding deferred revenue were €249 million compared with €247 million at the end of Q1 '16.

Deferred revenue was €211 million at the end of Q1 '17, compared with €183 million at the end of the same quarter last year. The year on year increase reflects the increased deferred revenue position related to Automotive contracts with upfront payments for multi-year service offerings.

At 31 March 2017, we reported a net cash position of €79 million (Q1 '16: net cash of €50 million). Net cash is the sum of the cash and cash equivalents at the end of the period (€84 million) minus the borrowings (€5.4 million).

Cash flow

The cash flow from operating activities for the quarter was an outflow of €1.8 million compared with an outflow of €18 million in Q1 '16. The year on year improvement in operating cash flow was mainly driven by lower utilisation of working capital in Q1 '17.

The cash flow used in investing activities during the quarter increased by €22 million year on year to €53 million (Q1 '16: €31 million) mainly due to the acquisition of Autonomos.

The cash flow used in financing activities was €3.2 million, reflecting a repayment of €5 million of our revolving credit facility partly offset by proceeds from the exercise of options related to long-term employee incentive programmes. In the quarter, 0.5 million options (Q1 '16: 0.3 million options) were exercised resulting in a €2.2 million cash inflow (Q1 '16: €1.2 million).

- END -

Consolidated condensed statement of income

(€ in thousands)  

Q1 '17
Unaudited

 

Q1 '16
Unaudited

         
Revenue   212,711   217,155
Cost of sales   80,341   93,850
Gross result   132,370   123,305
         
Research and development expenses 50,226 44,533
Amortisation of technology and databases 22,429 20,626
Marketing expenses 14,255 15,058
Selling, general and administrative expenses   50,313   47,401
Total operating expenses   137,223   127,618
         
Operating result   -4,853   -4,313
         
Interest result -175 -305
Other financial result 398 1,711
Result of associates   125   327
Result before tax   -4,505   -2,580
         
Income tax (expense)/gain   -51   7,346
Net result   -4,556   4,766
 
Net result attributable to:        
Equity holders of the parent -4,610 4,792
Non-controlling interests 54 -26
Net result   -4,556   4,766
         
Basic number of shares (in thousands) 233,074 230,612
Diluted number of shares (in thousands)   236,938   234,964
         
EPS, € basic -0.02 0.02
EPS, € diluted   -0.02   0.02
 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13  Next Page »
Featured Video
Jobs
Business Development Manager for Berntsen International, Inc. at Madison, Wisconsin
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Equipment Engineer, Raxium for Google at Fremont, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise