PalmSource Revenue Flat In Fourth Quarter
By Jeff Malester -- TWICE, 7/12/2004
Sunnyvale, Calif.— Fiscal fourth quarter revenue at PalmSource was flat, coming in at $17.6 million, compared with $17.3 million in the year-ago period.
However, the company reduced its net loss for the three months, ended May 31, to $2.9 million, down from a $3.4 million loss in the fourth quarter a year earlier.
Excluding restructuring charges related to the spin-off of PalmSource from PalmOne, net loss for the fourth quarter hit $585,000, compared with $567,000 year-on-year.
For the 12 months, PalmSource revenue also was flat, hitting $73.1 million, compared with $73.4 million in the same 12 months a year ago.
The company reduced its net loss to $15.2 million for the 12 months, compared with a loss of $21.8 million in the same period the previous year.
Excluding charges, PalmSource reported net income of $1.2 million for the 12 months, compared with a net loss of $11.7 million year-over-year.
