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TECHNOLOGY: Networks in Motion forecasts $25M in sales
Aliso Viejo navigation software startup Networks in Motion Inc. is looking to pinpoint a profit in 2008.
The company is on track to see more than $25 million in sales this year, up 56% from 2007 and up from $2 million in 2006, Chief Executive Doug Antone said.
The higher sales should allow the seven-year-old company to see its first profit this year, he said.
Networks in Motion's software does what industry insiders call "location based services" for wireless phones. The software looks up maps, offers driving directions and searches for local businesses.
Newer versions touch on social networking with "friend finders" and security "child trackers" that allow parents to track their kids' movements via their phones.
"We envision the day that 50% of the people with cell phones will have navigation," Antone said.
Customers...