*Justin* schreef op 27 april 2012 11:27:
Ik denk dat de koers ook gesteund wordt door het herhalen van de outlook. De outlook is herhaald, inclusief de 15 miljoen herstelkosten van een bug. Wat bevestigt dat de outlook aan de voorzichtige kant was. De resultaten waren ook wat beter dan verwacht, als je de eenmalige last van de bug buiten beschouwing laat.
Outlook We expect continued growth in Automotive, Licensing and Business Solutions. In Automotive we will continue to roll out solutions with our partners into new models. In addition we expect to win new contracts that will drive revenue growth in future years.
In Licensing we aim to grow revenue through new customer wins and by bringing new products to the market. Business Solutions is expected to continue to grow strongly, both by increasing its WEBFLEET subscriber base and by growing in areas beyond fleet management services.
The visibility in our core PND markets is limited as there remains great uncertainty about the rate of decline of customer demand for the category in the year ahead. This is exacerbated by an uncertain macro-economic climate in our core markets.
As a result we expect full year revenue of around €1.1 billion. We reduced operating expenses in 2011 to €538 million and we aim for around €500 million in 2012. We target full year capital expenditure of approximately €65 million. We expect to deliver adjusted earnings per share of around €0.35 (2011: €0.55).
The adjusted earnings per share range assumes an effective tax rate of 22% (2011: 19%) and full year EUR/USD currency exchange rate of 1.30 (2011: 1.40).