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Handspring sales up 630 per cent

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PDA maker Handspring vaulted over Wall Street expectations when it posted its latest quarterly fiscals last night.

The company's loss for the three months to 30 December 2000 narrowed to seven cents a share rather better than the 16 cents a share analysts had been anticipating, at least according to First Call's consensus figure. This time last year, before it IPO'd, Handspring lost 12 cents a share.

During the quarter, Handspring recorded sales up more than 630 per cent year-on-year to $115.62 million (Q2 2000: $15.79 million), which also represents a quarter-on-quarter increase of 64 per cent. The reason for the success? Very brisk Christmas sales, the company said.

Looking ahead, the PDA maker's CFO Bernard Whitney predicted Q3 sales of $117-123 million, which is impressive given the quarter after the Christmas period is usually weaker than the holiday quarter for consumer-oriented companies like Handspring.

Whitney reckons Handspring's loss will shrink only a little further, to six cents a share. The company is looking at a full-year sales total of $560-590 million. ®

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