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Navteq Finds Profits in First Quarter

While revenue from Europe, the Middle East, Africa and the Americas rose compared to the same period in 2007, Asia Pacific revenue declined 43% from the first quarter of 2007.

The company's in-dash map units rose 16% from a year ago, despite poor automobile sales, while portable map devices surged 129% from the first quarter of 2007 with solid growth in Europe. Total map units jumped more than 91% to 6.08 million, but were down nearly 30% sequentially.

Earlier Wednesday, Garmin (GRMN - Get Report) missed analysts first-quarter earnings targets amid the global economic downturn, warning that economic conditions will remain a factor on future growth.

Among other widely held tech and gadget stocks, Google (GOOG - Get Report) added 2.8%, while Apple (AAPL - Get Report) eased 0.6%. Intel (INTC - Get Report) was lower by 1.6%.
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AAPL $93.74 -1.15%
GOOG $693.01 0.29%
GRMN $42.63 -1.46%
INTC $30.28 -2.67%
NOK $5.87 -0.84%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

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