Navteq’s Profit Jumps for Quarter, Year
Navteq Corp., a maker of maps used in transportation navigation, said its fourth-quarter profit rose to $61.9 million, or 61 cents per share, from $42.9 million, or 45 cents, a year earlier.
Revenue rose 53% to $276.4 million, the company said in a statement late Wednesday.
Net income for the full year rose to $173 million, or $1.73 per share, from $110 million, or $1.14, in 2006. Revenue climbed 47%, to $853.4 million.
Navteq said last year it would be acquired by mobile communications firm Nokia, for $8.1 billion.
It said Wednesday that the pending merger had been cleared in December by U.S. regulators but that the deal was still subject to approval by European regulators.
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