Maps maker marks 29% revenue increase
Pardon the massive alliteration in the title. Tele Atlas - you know, the kind people who’re provided you with BlackBerry Maps - are reporting a third quarter revenue of $65 million, a 29% increase from this time last year. With BlackBerry Maps becoming an essential part of your devices these days, it wouldn’t surprise me to see another increase next year. Other highlights from Tele Atlas’ notable quarter are after the hop, skip, and jump.
• Revenues increased 29% to a record €65.0 million (Q3 2005: €50.5 million)
• Record Adjusted EBITDA of €11.1 million (Q3 2005: €1.7 million)
• Net loss increased to €17.8 million due in part to non-operating charges related to expansion of China activities. (Q3 2005: loss €9.8 million)
• 81% increase in personal navigation year over year showing continued strong growth in market
• New agreements with Nokia to provide maps for Nokia N95, and RIM for BlackBerry Pearl
• Expansion of presence in China with Changdi Youhao Mapping Technologies Co., Ltd. distribution agreement