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Palm losses hit $42m despite Centro surge

updated 04:30 pm EDT, Thu September 18, 2008

Palm Losses Worsen

Palm on Thursday afternoon reported mixed results for its summer quarter, which ended in August. The company posted a net loss of $41.9 million versus a just $0.8 million loss from the same period a year ago. The company attributed somewhat more than half the loss, or $24.4 million, to increasing stock prices and related compensation as well as securities, but left most other concerns to performance-related problems.

The news comes despite unusually strong smartphone sales for Palm. The company sold nearly 1.03 million devices over the three-month span of the quarter, representing a 49 percent spike year-over-year. It also notes that the revenue from these sales climbed by 10 percent to $333.8 million.

Palm chief Ed Colligan explains the loss by arguing that the company is still in the middle of a "transformation" that won't near completion until the launch of its long-delayed, Linux-based Palm OS sequel due in early 2009.

The company has again been partly buoyed by the entry-level Centro, which landed at more carriers in the summer and saw a price drop to $70 at the same time as the iPhone 3G launch that helped rally back-to-school sales. Palm also launched two key new Treo smartphones during the period that included both the 800w for Sprint and its first true worldwide HSDPA phone, the Treo Pro.




by MacNN Staff

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Comments

  1. Eldernorm

    Joined: Dec 1969

    +1

    Hmmmm

    Palm, sells more, makes less........ I just do not know.
    :-)

    Just a thought.
    en

  1. slider

    Joined: Dec 1969

    0

    Walking Dead

    Palm has been dying for years. They have no focus and their products are mediocre at best. Here's an example of a company that pretty much had to innovate to survive, instead they started to build handsets to run their competitors OS.

  1. Constable Odo

    Joined: Dec 1969

    0

    Palm: Open Source...

    unlimited potential. iPhone application restrictions will lead to Palm's blazing comeback in a year or so.
    25,000 Open Source apps available for download from Palm's App Store. Highest volume downloaded apps will be Podcaster and "Pull my Finger." which were both refused by the dangerously fascist Apple organization and Hitler-in-chief, Steve Jobs.

    Thousands of ex-iPhone developers unite, claiming that Apple pulled their potentially million download wonder apps from the App Store for absolutely no reason at all and ruined their livelihood. All this amidst the loud chants of "App Store belongs to developers, not Apple" and "Palm Power to the people."

    (sarcasm)

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