PalmSource Falls After Weak Forecast
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Shares of PalmSource Inc., the former software arm of organizer-maker Palm Inc., fell 10 percent in post-market trading Thursday after it provided a weak revenue forecast.
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Handheld computer maker Palm Inc.   PALM.O on Thursday posted lower first quarter net income as   costs rose and the company began expensing stock options, but   the results topped Wall Street forecasts.
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Palm Inc.  cut its  second-quarter profit and revenue forecasts on Monday, blaming  a delay in shipping its new Treo 750 smartphone in the United  States.
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(InfoWorld) - Palm's troubles continued on Thursday as the company posted a profit of $15.4 million for the fourth quarter, a 44 percent drop from its $27.2 million mark one year earlier, despite strong sales of its Treo smartphone. The company reported revenue of $401.3 million for the quarter ending June 1, down slightly from the $403.1 million it earned in the same quarter in 2006 and also below Wall Street's forecast of $406.6 million, according to analysts polled by Thomson Financial. The results come just weeks after the company faced rumors it would be acquired by rivals MotorolaÂ orÂ Nokia. Instead, Palm raised $325 million of extra money byÂ selling a 25 percent stake of the company Â to private equity investors. Palm is shifting its product portfolio from PDAs to smartphones, which are far more popular and offer a potential for greater profit margin because of their higher price tags. In the past quarter, Palm drew 86 percent of its revenue from smartphone sales, a huge swing for a company that in 1996 drew its entire revenue from the PalmPilot PDA. Palm's smartphone revenue of $344.2 million for the quarter was up 14 percent from the same quarter in 2006. "Our record Treo sell-through reflects strong fundamentals in the core focus areas of our business," said Palm CEO Ed Colligan. "I'm confident that in fiscal year 2008, more and more standard handset customers will demand the capabilities and ease of use of Palm smartphones, which aligns us well for future growth and profitability." Despite Colligan's optimism,Â Palm's smartphone sales did not help its results. Palm earned a profit of $0.15 per share in the fourth quarter, matching analysts' expectation of $0.15 but coming in far below the $0.25 it made a year earlier. Looking into the future, the company predicted revenue between $355 million and $365 million for the coming quarter, the first period of Palm's fiscal 2008. If the company meets the higher end of goal, it would beat its mark of $355.8 million in revenue for the first quarter of 2007. However, Palm may be distracted by change in its boardroom. As a condition of buying a large share of the company, the investment group Elevation Partners insisted on installing a new chairman, former AppleÂ vice president Jon Rubinstein. Palm also raised questions among investors in May when itÂ launched the Foleo, a miniature laptop Â intended to sell as a "smartphone companion." That product quickly faced criticism that its $599 price was too high and that its 10-inch screen was too large. Also on Thursday, Palm reported revenue of $1.56 billion for the full fiscal year 2007, down 1 percent from the $1.58 billion it earned in 2006. Palm earned profit of $56.4 million for the year, far below its $336.2 million profit in 2006, although the 2006 figure included a one-time tax rebate of $219.5 million.
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Palm Inc.  cut  second-quarter profit and revenue forecasts on Monday, blaming  a delay in shipping its new Treo 750 smartphone in the United  States.
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Blog: Palm revealed earlier this year that it's working on its own Linux-based version of the venerable Palm OS, but it's not going to arrive until next year.
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Palm Inc.  cut second-quarter profit and revenue forecasts on Monday, blaming a delay in shipping its new Treo 750 smartphone in the United States.
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Palm Inc.  posted lower  quarterly earnings on Thursday as increasing sales of its Treo  smartphones were offset by a downturn in its more profitable  handheld computers.
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Record sales, but numbers still down Palm is still losing money, despite the Centro selling in record numbers (for Palm). The company lost $9.6m in the three months to 30 November, on revenues which are down 11 per cent on last year to $349 million.â¦
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Plus: Linux demand lifts Red Hat profit...Strong sales of phones, other gadgets boost PalmOne profit...Lawson expects quarterly loss.
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SUNNYVALE, Calif., Dec. 8 /PRNewswire-FirstCall/ -- PalmSource, Inc. (NASDAQ:PSRC), provider of Palm OS(R), a leading operating system powering next generation mobile devices and smartphones today announced
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Mobile software provider PalmSource is leaping into a market with a potentially huge upside with the acquisition of China MobileSoft (CMS), and at the same time is giving a big boost to the open source developer commmunity.
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SAN JOSE, Calif. &#151; Microsoft Corp.'s software platform for personal digital assistants took over the market lead from PalmSource Inc. for the first time in the third quarter, according to market research released Friday.
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Needs those new models, sharpish Palm says its most recent quarter's earnings will come in lower than it hoped. The company said revenue for 1H 2007, which it previously stated would come in between $380m and $385m, will fall short, between $354m and $364m.â¦
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PalmSource&#39;s latest iteration of the Palm OS operating system, code named Cobalt, is expected to be available in consumer mobile phone devices in the first half of 2005.
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A delay in the release of its newest Treo device prompted the first drop in sales at Palm Inc. in more than three years.
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A November settlement with Taiwan's Acer helped push PalmSource into the black during the second quarter of its fiscal year, even as shipments of Palm OS-based devices declined compared to the same period last year, the Sunnyvale, California, company said Wednesday.