Feeds

Palm's loss narrows on flat sales

Out with the old, in with the new

  • alert
  • submit to reddit

Security and trust: The backbone of doing business over the internet

Palm's revenue slipped a fraction in the fourth quarter, as a lackluster handheld market continued to affect the company.

Palm generated $225.8 million in revenue for the fourth quarter ended May 31. This marks a 3 percent decline from the $233 million reported in the same quarter a year ago.

The handheld device and software maker did manage to shrink its net loss down to $15 million or a loss of $0.51 per share. This compares to a net loss of $27.5 million or a loss of $0.95 in last year's fourth quarter.

Palm included $2 million in restructuring charges and $3.8 million in separation costs related to its imminent spin-off of PalmSource in its figures. As it dumps the operating system unit, Palm is also planning to to acquire Handspring.

For the full fiscal year, Palm pulled in $871.9 million in revenue. This is a 15.4 percent fall from the cool $1.0 billion reported in 2002. The net loss for 2003 hit $442.6 million compared to a net loss of $82.2 million last year.

Palm shipped close to 931,000 handhelds during the fourth quarter and close to 4.2 million devices during the entire year.

The company claimed it was able to "inspire" the number of Palm OS applications to reach 18,300 up from 12,500 a year ago.

Shares of Palm traded down 3.5 percent during the day to close at $15.70. In after-hours trading, investors appeared pleased with Palm's ability to lower the quarterly net loss and sent shares higher by 4.5 percent to $17.03 at the time of this report. ®

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Turnbull: NBN won't turn your town into Silicon Valley
'People have been brainwashed to believe that their world will be changed forever if they get FTTP'
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
Bonking with Apple has POUNDED mobe operators' wallets
... into submission. Weve squeals, ditches payment plans
ISPs' post-net-neutrality world is built on 'bribes' says Tim Berners-Lee
Father of the worldwide web is extremely peeved over pay-per-packet-type plans
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.