Telenav (TNAV) Announces Amendments to Sprint-Tele Atlas Deal: Telenav to Get Guaranteed Annual Fixed Fee from Sprint, Gives Q1, FY11 Guidance

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Telenav (Nasdaq: TNAV) reports amendments to the Sprint (NYSE: S)-Tele Atlas deals. The term of the amendment pact, among other changes, has been extended to December 31, 2012. Telenav will get a guaranteed annual fixed fee from Sprint.

Related to the extension, Telenav is giving some guidance:

• sees Q1 adj-EPS of about 23c on sales of $50 million
  
• sees FY11 adj-EPS of 55-60c on sales of $180-$185 million

The Street is currently looking for Q1 EPS of about 23c and sales of $50.3 million. For FY11, the Street is looking for EPS of 85c on sales of $206 million.

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