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TomTom profit misses consensus by 67.0% in Q4

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TomTom profit misses consensus by 67.0% in Q4

TomTom NV said its normalized net income for the fourth quarter came to €5.7 million, compared with a loss of €683,880 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 2.0% from negative 0.3% in the year-earlier period.

Total revenue grew 9.3% year over year to €282.5 million from €258.4 million, and total operating expenses climbed 5.4% on an annual basis to €270.8 million from €256.9 million.

Reported net income grew year over year to €20.9 million, or 9 cents per share, from €40,790, or 0 cents per share.

For the year, the company's normalized net income totaled €2.3 million, a decline of 74.3% from €9.0 million in the prior year.

Full-year total revenue increased 5.9% from the prior-year period to €1.01 billion from €950.3 million, and total operating expenses increased 7.0% year over year to €994.5 million from €929.2 million.

The company said reported net income decreased 17.4% year over year to €18.6 million, or 8 cents per share, in the full year, from €22.5 million, or 10 cents per share.