TomTom Swings To Loss In Second Quarter

TomTom NV

swung to a loss in the second quarter on Friday. TomTom reported a quarterly loss of 489 million euros ($704 million), versus a profit of €34 million, in the year-earlier period. Its sales declined 13% y/y to €314 million, from €362 million. TomTom projects 2011 earnings between €0.25 and €0.30 per share, excluding impairment and revenue between €1.23 billion and €1.28 billion.