GPS maker TomTom has reported its financial results for Q2 2009. Revenues for the GPS firm dropped 24% for the quarter compared to the same quarter in 2008. The firm ended the quarter with €368 million in revenue, an increase of 73% compared to the previous quarter.
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Operating expenses were reduced by 18% compared to the same quarter of 2008 and the operating margin was 16%. TomTom reports net cash flow from operating activities was €96 million.
TomTom also reported operational highlights for the quarter. One of the highlights was the launched of the HD Traffic service on mid-range PNDs. Live Services were integrated for pan-European use and the first in-dash TomTom GPS device was delivered to Renault.
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