Palm posts $43 million Q4 loss despite increased revenue
By Will Park on Friday, June 27th, 2008 at 2:34 PM PST In Announcements, Financial/Corporate News, Palm, Palm OS
This sounds all too familiar. Like Helio’s inability to turn a profit despite increasing their cash inflow, Palm (NSDQ: PALM) has posted their Q4 earnings to disappointing effect.
Palm highlighted the fact that their revenue was up 29%, based on smartphones sales of 968,000 units totaling $296.2 million. But, it wasn’t enough to hide the fact that the Palm Centro’s spectacular success wasn’t enough to bring Palm any profit. The outfit ended the fourth quarter with a $43.4 million net loss.
Palm’s fiscal announcement works out to an adjusted loss of 22 cents per share, falling short of Wall Street’s expectation of an 18 cent loss per share.
What can we say. Palm’s return to profitability is likely going to be a long road, and a loss was expected for this particular quarter. But, the good news is that smartphones sales saw a much-needed upturn.
[Via: Unstrung]
Actually the release doesn’t mention whether revenue was up or down. Smartphone unit sales were what was up 29%. Since the CEO talks about a “return to revenue and margin growth” it sounds to me like revenue was probably down from last year. Anyone have numbers?