Palm Posts a Loss After Revenue Slides
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The smartphone maker said Tuesday that it swung to a loss in its fiscal second quarter as revenue fell and expenses rose.
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Handheld computer maker Palm Inc.   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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(InfoWorld) - Two days after it restructured operations, MotorolaÂ on Thursday reported that flagging sales of mobile devices were a factor in its second-quarter loss of $28 million, or $0.01 per share. The telecommunications device maker posted income of $1.38 million, or $0.55 cents a share, one year earlier. Revenue declined by 19 percent to $8.73 billion from $10.82 billion one year earlier. The drop was expected: Motorola issuedÂ preliminary financialsÂ last week, warning that its results would be lower than had been forecast. The company said Thursday that excluding one-time costs, it would have earned $0.02 per share. Analysts surveyed by Thomson Financial, who revised estimates lower after last week's warning, were forecasting break-even results on sales of $8.64 billion. Layoffs and other one-time charges were responsible for losses amounting to $0.04 per share. But the loss for the quarter underscores the company's beleaguered mobile device business, which has been outflanked by rivals including Apple. The pressure will continue. Motorola announced that it expects earnings in the third quarter to be equal to or slightly higher than the second quarter, and that its mobile devices unit will probably not be profitable this year. The company saw a drop in mobile device sales in Asia, a hot market where vendors are trying to get a big share of the market in fast growing economies, as North American and European markets become saturated with mobile phones. Motorola has taken steps to address its problems. The vendor announced Tuesday that it's restructuring into three business divisions: Mobile Devices, Home and Networks Mobility, and Enterprise Mobility Solutions. It also has a new chief of its mobile unit, Stu Reed. Motorola CEO Ed Zander has beenÂ under pressureÂ to resign. He attracted criticism from big-name investor Carl Icahn earlier this year, and recently has been attacked by activist shareholder Eric Jackson for the way he's running the company. Although Motorola has taken steps to cut costs, a core challenge for the company is product design in the competitive handset arena. ItsÂ Razr deviceÂ was praised for its design, but in a fast-paced market quickly became an also-ran, under a barrage of products from rivals that in addition to Apple include Nokia, Samsung Electronics, and LG Electronics. Despite expecting mobile phone sales to be under increasing pressure, Motorola did say that it expected its overall financial results to improve during the second half of the year. Thursday morning, Motorola shares were trading at $18.18, up $0.18 from its opening. Â
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Facing increasing competition in the smartphone market, Palm Inc. said Wednesday that it might see a small loss in its fiscal first quarter.
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Palm Inc. PALM.O on Thursday   posted a lower quarterly profit as the maker of the Treo   smartphones spent more money to fend off rivals and sales in   retail stores fell short of expectations.
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Shares of the worldâs biggest maker of mobile networks fell 24% after announcing a drop in third-quarter profit amid weaker demand for equipment in Europe and the U.S.
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CHICAGO -- Cell-phone maker Motorola Inc. posted a $28 million second-quarter loss Thursday as continuing weak sales resulted in its first back-to-back losses in five years.
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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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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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Palm Inc. has canceled plans to release a laptop-like gadget that was supposed to serve as a smart-phone companion, months after the product was announced and ridiculed by analysts.
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No new PDAs likely - Colligan Palm reported revenue of $355.8m for the quarter ending 1 September, with a slim net income of $16.5m. Measured on a non-GAAP basis, the profit was $21.5m.â¦
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Handheld computer maker palmOne on Monday posted a quarterly profit, versus a loss a year earlier, on stronger revenue spurred by solid sales of its Treo 600 mobile phone and other digital devices.
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The incredible shrinking handheld market continued its decline in the third quarter, with market leader palmOne (PLMO:Nasdaq - news - research) continuing to lose its stature, according to a report issued Wednesday.
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Microsoft&#39;s Windows CE has knocked Palm off the PDA operating system sales top spot for the first time, newly released market research has revealed.
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PalmOne Inc. (PLMO.O: Quote, Profile, Research) on Monday swung to a profit in its first quarter from a year-earlier loss on a 62 percent jump in revenue, spurred by solid sales
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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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Palm Inc., the troubled maker of Treo smart phones, laid off about 10 percent of its work force this week to cut expenses, according to a person familiar with the situation.