Mobile navigator digital map provider Navteq has posted record revenue and operating income for the fourth quarter and fiscal year ended 31 December.
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Fourth quarter revenue rose 53% year on year to $US276.4m while operating income was up 33% to $83.3m. Net income rose 44% to $61.9m and earnings per share grew 36% to $0.61.
Full year revenue was up 47% to $853.4m and operating income rose 47% to $226.2m. Net income was up 57% to $173.0m and earnings per share of $1.73 grew 51%.
“The fourth quarter capped a terrific year of growth and progress for Navteq,” said president and chief executive officer Judson Green.
“The performance of our business continued to outpace our forecasts, which enabled us to increase investment in our products and services during the year. We are excited about our prospects as we begin 2008 and we look forward to another successful year.”
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By GlobalDataNavteq said its planned merger with mobile phone giant Nokia was cleared on 6 December by the Committee on Foreign Investments in the United States and completion is subject to European regulatory approval. Nokia is expected to file with the European Commission in the next two weeks.
