Navteq Nails Quarter

The map company guides up for 2005.
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(NVT) - Get Report

jumped 2% late Wednesday after posting a fourth-quarter profit and boosting 2005 targets.

For its fourth quarter ended Dec. 31, the Chicago-based provider of map data earned $15.4 million, or 17 cents a share, down from the year-ago $179 million, or $2.01 a share. The latest-quarter numbers matched the Thomson First Call analyst consensus estimate, and the year-ago period benefited from a reversal of a deferred tax asset valuation allowance.

Revenue rose 46% from a year ago to $119 million, easing past the $106 million Wall Street estimate. Navteq is perhaps best known to investors as a supplier of traffic data to satellite radio favorites


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"Our strong results in the fourth quarter bring to a close a very exciting and productive year for Navteq," said CEO Judson Green. "I am very pleased with all that we accomplished in 2004. We have grown our business significantly in all of our key markets, while investing in the coverage, content and technology initiatives that will strengthen our competitive position in the years to come."

The company also guided toward stronger-than-expected 2005 results, saying it expects to make 90 to 95 cents a share on revenue of $475 million to $500 million. Analysts had been expecting an 86-cent profit on sales of $470 million.

Navteq rose $1 in postclose action to $40.48.