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Updated Tuesday, October 25, 2011 11:12 am TWN, AP

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TomTom reports profit climbs 9.6 percent in Q3 as debts drop

AMSTERDAM -- Navigation device manufacturer TomTom NV has reported a 9.6 percent rise in third-quarter earnings, mostly because of lower restructuring charges, but the company's operations also strengthened from the previous quarter and its debts are declining.

Net profit was 28.9 million euros (US$40 million), from 19.3 million euros a year ago, when it took a 20-million-euro restructuring charge, the company said Monday. Revenues fell 10 percent to 336 million euros due an ongoing fall in device sales to consumers in the U.S. and Europe. But sales are up 7 percent since June on higher revenues from carmakers.

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