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Navteq

(NVT) - Get nVent Electric plc Report

rose 3% late Wednesday after the company beat third-quarter targets and guided in line.

The Chicago-based maker of navigation devices made $27 million, or 28 cents a share, for the quarter ended Oct. 1, down from the year-ago tax-benefit-padded $101 million, or $1.07 a share. Revenue rose to $143 million from $123 million a year earlier.

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Analysts surveyed by Thomson Financial were looking for a 25-cent profit on sales of $140 million.

Navteq warned that this year's performance "is being negatively impacted by a number of factors, including unfavorable car sales trends in both Europe and North America, lower-than-expected revenue relating to portable devices in Europe and the collectibility of a customer receivable."

As a result, Navteq expects to make $1.10 to $1.16 a share for the year on revenue of $565 million to $580 million. Analysts were looking for $1.12 a share on $576 million.

Shares rose $1 to $29.95.