Palm revenue goes up, net loss down in last quarter
Posted on 19-Sep-2003 22:08
Filed under: News
Palm reported revenues of US$177.4 million for the first quarter of fiscal year 2004, ended 29th August 2003, up 3.0 percent from the US$172.3 million reported during the comparable quarter a year ago.
For the first quarter of fiscal year 2004, net loss was US$21.7 million. This net loss included restructuring charges of US$2.7
million, This compares to net loss for the first quarter of fiscal year 2003 of US$258.7 million.
The company noted the following operational highlights in the first quarter of fiscal year 2004 over the comparable quarter last year:
Revenue rose 3 percent, helped by an increase in average selling prices to US$231 from US$167, reflecting the company's recent introduction of fully featured products in the Zire and Tungsten lines.
gross margin of 34.7 percent vs. 30.7 percent.
Palm shipped approximately 645,000 Palm handhelds during its first fiscal quarter, bringing the total number of Palm branded handhelds shipped to date to 22.9 million.