Palm: Revenue up, earnings down
Executives at the Treo maker also report record sales of the flagship product, but won't speculate on rumors of an imminent takeover.
During a conference call with reporters and analysts, the company also said it shipped a record 738,000 Treos in the quarter ending March 2. That represents a 30 percent increase from the previous year, and a 20 percent jump from the previous quarter.
The Treo maker's revenue of $410.5 was a hair above the $400 million to $410 million earnings guidance it provided, and up nearly 6 percent from the $388.5 million reported a year ago. Its net income was $11.8 million, down nearly 61 percent from $29.9 million a year ago.
CEO Ed Colligan acknowledged that the average selling prices of smart phones had declined, which he said the company had anticipated, and expects to continue.
Investors and analysts peppered Colligan and CFO Andy Brown with questions about
Colligan also declined to shed any light on the mysterious Jeff Hawkins project currently still in the research and development phase, or when an updated version of the Palm OS will be available.