Business Services Industry
PalmOne Posts $9.3 Million Third-Quarter Loss.
Knight Ridder/Tribune Business News, March, 2004
By Jon Fortt, San Jose Mercury News, Calif. Knight Ridder/Tribune Business News
Mar. 23--PalmOne, maker of Palm-powered devices, reported a narrower loss Monday and said it expects a slight profit in the current quarter. Investors bid up PalmOne shares about 15 percent in after-hours trading, near a high mark for the year.
The company's loss was $9.3 million, or 20 cents a share, in the third fiscal quarter ended Feb. 27. A year ago, the company posted a net loss of $172.3 million, or $5.93. Revenue rose 22.6 percent to $242.5 million from $197.9 million last year.
Without restructuring charges and other one-time items, the Milpitas company said it would have posted profit of $600,000, or 1 cent a share.
Though sales of its...
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