Non-GAAP net income attributable to AutoNavi shareholders, which excludes share-based compensation expenses, was $49.0 million in fiscal year 2012, an increase of 19.9% from fiscal year 2011. Diluted non-GAAP net income per ADS attributable to AutoNavi shareholders for the fiscal year 2012 was $0.98, as compared to $0.81 from a year ago.
Cash and Term Deposits Balance
As of December 31, 2012, the Company had $216.2 million in cash and cash equivalents and term deposits.
The Company estimates its full year 2013 net revenues will be in the range of $168 million to $176 million, representing an increase of approximately 5% to 10% over fiscal year 2012.
Share Repurchase Program Update
AutoNavi announced a share repurchase plan on February 28, 2012, pursuant to which the Company is authorized by its board of directors but not obligated to repurchase up to $50 million worth of its ADSs until February 26, 2013. As of February 26, 2013, the Company has repurchased a total of 2,536,647 ADSs, representing 10,146,588 ordinary shares, with a total consideration of approximately $29.2 million at a price range of $10.03 to $12.57 per ADS, including brokerage commissions.
Conference Call Information
AutoNavi's management will hold an earnings conference call at 8:00 a.m. Eastern Time on February 27, 2013 (9:00 p.m. Beijing/Hong Kong time on February 27, 2013).
The dial-in numbers and passcode for the conference call are as follows:
| U.S. Toll Free:
| Hong Kong:
| United Kingdom:
A replay of the conference call may be accessed by phone at the following number until March 7, 2013:
| U.S. Toll Free:
Additionally, an archived web-cast of this call will be available on the Investor Relations section of AutoNavi's website at
About AutoNavi Holdings Limited
AutoNavi Holdings Limited (Nasdaq:AMAP) is a leading provider of digital map content and navigation and location-based solutions in China. At the core of its business is a comprehensive nationwide digital map database that covers approximately 3.6 million kilometers of roadway and over 20 million points of interest across China. Through its digital map database and proprietary technology platform, AutoNavi provides comprehensive, integrated navigation and location-based solutions optimized for the Chinese market and users, including automotive navigation solutions, mobile location-based solutions and Internet location-based solutions, and public sector and enterprise applications. For more information on AutoNavi, please visit
The AutoNavi Holdings Limited logo is available at
Forward Looking Statements
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the Business Outlook section and the quotations from management in this press release, as well as AutoNavi's strategic and operational plans, contain forward-looking statements. AutoNavi may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about AutoNavi's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: AutoNavi's ability to adequately maintain and update its digital map database and minimize errors in its solutions; its current reliance on the automotive navigation market and a small number of customers for a substantial portion of its revenues; the project-based nature of its public sector and enterprise applications business; its limited operating history in the mobile/Internet location-based solutions markets; compliance with a complex set of laws, rules and regulations governing its surveying and mapping and other businesses in China; competition in the navigation and location-based solutions businesses in China; and its ability to manage its growth effectively and efficiently. Further information regarding these and other risks is included in AutoNavi's annual report on Form 20-F as well as in its other filings with the Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and AutoNavi undertakes no duty to update such information, except as required under applicable law.