Dutch sat nav firm TomTom said that its third-quarter net profit rose 24% to €73 million, after sales rose 41% to €353 million.
The company said that it shipped 1.2 million portable navigation devices in the quarter, up 119% from a year ago, as the market for its products continued to grow strongly.
TomTom said that it’s now expecting 2006 sales in a range of €1.3 billion to €1.4 billion, up from a prior estimate range of €1.1 billion to €1.3 billion.
TomTom expects a gross margin of at least 40% and an operating margin of above 20%.
In related news, TomTom have also signed an exclusive deal with Toyota to bundle their GO710 unit with new cars sold in Taiwan.