Treo sales make Palm profits huge (PALM)
March 26, 2006 – 8:12 amSelling Treos is turning out to be a great business for Palm (PALM). For the third quarter ended March 3rd, Palm reported massive sales and increasing profits:
The company’s revenue for the quarter was up 36 per cent to $388.5 million from $285.3 million a year earlier.
Net earnings in the quarter included a partial reversal of a deferred tax asset valuation allowance of about $13 million.
The company said it expected its revenue to go up to $400 million to $405 million in the fourth quarter ending 2 June and adjusted earnings per share of 22 cents to 23 cents.
With numbers like this, you can bet Palm is quite happy with their performance in the handheld device category. Treos accounted for an incredible 70% of revenues in the quarter, proving the potential of the popular smartphones.
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