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PalmOne boasts soaring sales

Smarthphones leading the charge...

By Richard Shim

Published: 22 June 2004 08:10 GMT

Narrowing losses for the year, handheld maker PalmOne reported rising revenue and a profitable quarter led by demand for its smart phones.

The company yesterday announced sales for its fourth quarter, which ended 28 May, were $267.3m, compared with $217.1m in the same period a year ago. The company reported a profit of $13.3m, compared with a loss of $15m, or 51 cents per share, a year ago.

For its fiscal year, revenue was $949.7m, up from $837.6m last year. PalmOne had a loss of $21.8m for the year compared with a loss of $442.6m last year.

PalmOne shares closed up five per cent yesterday. In after-hours trading, the stock shot up more than 15 per cent, rising $3.24, to $24.70 per share in response to the strong quarterly report.

PalmOne's CEO Todd Bradley credited consumer demand for the fiscal year's strong finish.

Richard Shim writes for News.com

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