Palm Reports Q4 and Record FY 2006 Results

Palm, Inc. has reported that revenue in its fourth quarter of fiscal year 2006, ended 2 June, totaled US$403.1 million, up 20 percent from the year-ago quarter. For the full fiscal year 2006, revenue totaled US$1.6 billion, up 24 percent from fiscal year 2005.

Net income for the quarter was US$27.2 million, or US$0.25 per diluted share. This compares to net income for the fourth quarter of fiscal year 2005 of US$17.7 million, or US$0.17 per diluted share, and net income for the third quarter of fiscal year 2006 of US$29.9 million, or $0.28 per diluted share.

"Treo smartphone sales surpassed an important milestone -- $1 billion in revenue for the fiscal year," said Ed Colligan, Palm president and chief executive officer. "Our product engine is firing on all cylinders as evidenced by our recent introductions of both the Treo 700w and the Treo 700p, each of which offers a different operating system, 3G radios and robust application suites, and we delivered these products to multiple carriers simultaneously. We enter fiscal year 2007 as a strong leader, capable of delivering on the rich potential of mobile computing on a global scale."

Palm shipped approximately 4.8 million mobile-computing devices during fiscal year 2006, including 2.3 million Treo smartphones and 2.5 million Palm handheld computers. During the fourth quarter of fiscal year 2006, Palm shipped approximately 623,000 smartphones and 495,000 handheld computers. To date, Palm has shipped almost 36 million units.