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PalmSource announces Q3 FY04 Results
Posted on 19-Mar-2004 13:30 | Filed under: News

PalmSource announces Q3 FY04 Results
PalmSource reported revenues of US$21.6 million for the third quarter ended February 27, 2004, as compared to revenues of US$26.3 million for the same quarter of the prior fiscal year. Revenues for the nine months ended 27 February 2004 were US$55.5 million, compared to revenues of US$56.1 million for the same period of the prior fiscal year.

Net income for the third quarter of fiscal year 2004 was US$0.6 million, or US$0.05 per share on a fully-diluted basis. Net income for the same quarter of the prior fiscal year was $0.7 million, or US$0.07 per share on a fully-diluted basis. Net loss for the nine months ended February 27, 2004 was US$12.3 million, or US$1.20 per share on a fully-diluted basis, as compared to a net loss of US$18.3 million, or US$1.83 per share on a fully-diluted basis, for the same period of the prior fiscal year.

PalmSource also reported management's current outlook for the fourth quarter:

  • Revenues are expected to be in the range of $17 million, plus or minus 5%.
  • Financial results on a GAAP basis are expected to be in the range of a net loss of US$4 million to US$7 million; and on a non-GAAP basis, areexpected to be in the range of a net loss of US$1 million to US$3 million. The difference between the financial results on a GAAP basis and a non-GAAP basis is expected to be primarily the result of charges for stock based compensation and restructuring costs that may be incurred.
  • Cash flow used by operating activities is expected to be in the range of US$4 million to US$6 million.


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