NNG increased its gross margin of over 40% in 2011 and forecasts a 60% increase for 2012. NNG CEO Peter Balogh targets to sell 20 million navigation licenses in the next three years.
NNG also indicated that their online services platform Naviextras.com posted a 102% increase in revenue in the first half of 2012 compared to the same the period in 2011.
?Thanks to the automotive orders, we have good revenue visibility for the next 5 years,? wrote Balogh in an email to GPS Business News.
NNG has been so far a private company and they do not seem to have other plans thus far. When asked about a potential IPO, Balogh told us: ?I wouldn?t comment on our plans, but I think the stock exchange is a challenging place to be lately, with valuations based more on sentiments rather than business. And it certainly applies to some of the companies out there, trying to target the same market.?
Source: http://www.gpsbusinessnews.com/NNG-Revenue-Up-44-in-1H-2012-Automotive-is-80-of-Business_a3862.html
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