TeleNav May Lose Revenue From Changes To Sprint Contract

TeleNav Inc. (Nasdaq: TNAV) reported higher fourth quarter income of 24 cents per diluted share compared with 20 cents per diluted share last year that topped analyst estimates but warned that changes to its contract with Sprint (NYSE: S), the company's largest client, may reduce future revenue. Shares of the navigation technology company plummeted $3.42 to $5.49 while Sprint stock slipped 20 cents to $4.56.