Pre sales fail to prevent Palm loss
Palm yesterday reported its ninth straight quarterly net loss, but said handset shipments had soared by 134% over the previous quarter.
The smartphone maker said it ended the June-August quarter €1.8 million in the red. Revenue decreased nearly sixfold year-on-year to €46 million.
Excluding one-off items it posted a loss of US$0.10 cents a share, beating expectations of a loss of $US0.24 cents.
Strong Pre sales helped Palm ship 823,000 smartphones during the quarter, a 134% quarter-on-quarter improvement but a decline of 30% year-on-year.
Palm CEO Jon Rubinstein said the company was making significant progress in its transformation drive, and had a cashflow of around €143 million at the end of the quarter.
The company said it expects non-GAAP revenues of between €162- €183 million this quarter, and €1.08- €1.22 billion for FY10.