PalmOne reports 62% rise in Q1 revenue


PalmOne reports 62% rise in Q1 revenue

PalmOne has reported revenue of $273.1m (£151.5m)  for the first quarter of year 2005, which ended 27 August, up 62% from the $168.6m reported during the comparable quarter a year ago.

The company says net income is $19.6m compared with a net loss from continuing operations in the first quarter of 2004 of $16.9m.

Net income for the first quarter of 2005 totalled $21.9m compared with $14.1m in the first quarter of the previous year.

“Our handheld and smartphone solutions performed very well in the marketplace. Outstanding products plus operational excellence resulted in strong growth and profitability,” said Todd Bradley, PalmOne chief executive officer.

“Excitement is mounting in our category, and we are confident that our innovative products, coupled with our excellent distribution through retail and carrier channels, will help us to maintain and extend our market leadership.”

Bradley noted other financial highlights include unit sales of handheld computers being up by 10% and it generated $31.3m in cash from operations.

Written by Computing SA staff

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