Advertisement
YOU ARE HERE: LAT HomeCollectionsPalm Inc

Earnings Roundup

Palm posts fifth consecutive loss

September 19, 2008|From Times Wire Services

Palm Inc. reported a fifth straight quarterly loss after sales of its Treo and Centro e-mail phones fell further behind those of Research in Motion Ltd.'s BlackBerry. Its shares fell 8% in extended trading.

The fiscal first-quarter loss widened to $41.9 million, or 39 cents a share, from $841,000, or 1 cent, a year earlier, Palm said. Revenue rose 1.7% to $366.9 million in the three months that ended Aug. 31.

Palm's $99 Centro failed to counter gains by the BlackBerry and Apple Inc.'s iPhone. Although the company sold 2 million Centro phones in less than a year, the device isn't as profitable as the Treo. Revenue is expected to drop in the second quarter from the first as Centro sales slow, Palm said.

Shares of Sunnyvale, Calif.-based Palm fell 64 cents to $7.85 in extended trading. They had risen $1.28, or 18%, to $8.49 in regular trading. The shares have climbed 34% this year.

Advertisement
Los Angeles Times Articles
|
|
|