Feeds

PalmOne pockets a profit

But analysts want more

  • alert
  • submit to reddit

Remote control for virtualized desktops

PalmOne has pleased Wall Street with a set of results for the first quarter of fiscal 2005 ended 27 August 2004.

The handheld and smart phone maker turned over $273m, up 62 per cent from the $169m in the same period a year ago. The firm made a profit or net income of $19.6m, compared to a loss of $16.9m a year ago. This provided a profit per share of 48 cents, compared with analysts' predictions of around 20 cents per share.

Gross margin rose to 33.3 per cent compared to 28.1 per cent in the same quarter last year. Operating margin was 8.5 per cent. Inventory turns rose to 44 times compared to 21 times the year before.

PalmOne shipped 981,000 Zire, Tungsten and Treo devices in the quarter, taking total shipments to date to 27.4m.

Shares in palmOne initially rose but ended falling more than ten per cent because the company's outlook for the next quarter missed analyst expectations. The handheld maker expects earnings per share of between 46 and 50 cents per share, according to Reuters. But analysts had targeted earnings of 60 cents per share. palmOne said margins will under pressure in the run up to Christmas from increased spending on marketing and engineering. ®

Related stories

Group Sense readies Palm OS 5.4 smart phone
PalmOne Tungsten 'T5' turns up on web
PalmOne offers Wi-Fi card...

Choosing a cloud hosting partner with confidence

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
NATO declares WAR on Google Glass, mounts attack alongside MPAA
Yes, the National Association of Theater Owners is quite upset
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Choosing a cloud hosting partner with confidence
Download Choosing a Cloud Hosting Provider with Confidence to learn more about cloud computing - the new opportunities and new security challenges.