Palm posts higher revenue, lower profit
Published: 23 Mar 2007 10:12 GMT
Palm, maker of the Treo smartphone, posted higher revenue and a lower quarterly profit Thursday.
During a conference call with reporters and analysts, the company also said it shipped a record 738,000 Treos in the quarter ending 2 March. That represents a 30 percent increase from the previous year, and a 20 percent jump from the previous quarter.
The Treo maker's revenue of $410.5 was a hair above the $400m to $410m earnings guidance it provided, and up nearly 6 percent from the $388.5m reported a year ago. Its net income was $11.8m, down nearly 61 percent from $29.9m a year ago.
Chief executive Ed Colligan acknowledged that the average selling prices of smartphones had declined, which he said the company had anticipated, and expects to continue.
Investors and analysts peppered Colligan and chief financial officer Andy Brown with questions about Palm's rumoured sale, which had the blogosphere buzzing for the past month. Despite considerable rumours in recent weeks that the company could announce that it was being acquired as soon as today, executives stayed mum on the speculation. "As you can imagine, there's a lot of rumours and speculation out there. We're just not going to comment on that stuff," said Brown.
Colligan also declined to shed any light on the mysterious Jeff Hawkins project currently still in the research and development phase, or when an updated version of the Palm OS will be available.
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