palmOne reports revenue 62% up for the quarter

palmOne, Inc. has reported revenue of US$273.1 million for the first quarter of fiscal year 2005, ended 27 August, which is up 62 percent from the US$168.6 million reported during the comparable quarter a year ago.

Net income was US$19.6 million, or US$0.38 per share. This compares to net loss from continuing operations in the year-ago period of US$16.9 million, or US$0.57 per share.

Net income in the first quarter of fiscal year 2005, measured on a non- GAAP basis, totaled US$21.9 million, or US$0.43 per share. This compares to a non-GAAP net loss in the first quarter of fiscal year 2004 of US$14.1 million, or US$0.48 per share.

During the quarter, palmOne announced an expansion of its relationship with T-Mobile, bringing the Treo 600 smartphone to the carrier's retail customers and online store in addition to its existing business channel, and a new carrier relationship with Verizon Wireless, the nation's largest wireless carrier. Today, Treo smartphones are sold by the five largest carriers in the United States, in addition to other carriers around the world. Since the quarter ended, palmOne announced a second carrier in Canada (Bell Mobility) and its first in Spain (Vodafone).

palmOne shipped approximately 981,000 Zire, Tungsten and Treo devices during its first fiscal quarter, bringing the total number shipped to-date to approximately 27.4 million.