Posted on 24-Mar-2006 11:52
Filed under: News
Palm, Inc. has reported revenue of US$388.5 million in its third quarter of fiscal year 2006, ended 3 March 3, which is up 36 percent from the year-ago period.
Net income in the third fiscal quarter was US$29.9 million, or US$0.28 per diluted share. This compares to net income for the third quarter of fiscal year 2005 of US$4.4 million, or US$0.04 per diluted share.
Based on current trends, Palm provided its outlook for financial results in the fourth quarter of fiscal year 2006, ending 2 June 2006. At this time, the company set some high expections, including revenue in the range of US$400 million to US$405 million, with a gross margin between 33.5 percent and 33.7 percent.
During the third quarter of fiscal year 2006, the company shipped a total of 564,000 Palm Treo smartphones. Treo sell-through reported by the company's carriers and other smartphone distributors was a record-high 569,000, up 102 percent from the year-ago period, reflecting strong demand for the Treo 650 and Treo 700w smartphones;
In the same period Palm's share of the U.S. converged smartphone/PDA market grew to 30 percent, up from 22 percent a year before, according to Canalys. Palm's unit shipments grew by 111 percent compared to the overall market growth of 56 percent.
One of the highlights of this period was the release of the company's first smartphone that uses the Microsoft Windows Mobile operating system. The Palm Treo 700w smartphone is the first of four new smartphones the company will introduce this calendar year.
The Palm Treo 700w was delivered first on high-speed EV-DO (Evolution Data Optimized) Verizon Wireless network.