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palmOne Q4 Revenue Jumps 26%

6/30/2005 08:41:00 AM Eastern

Milpitas, Calif. — Handheld maker palmOne recorded a 26 percent jump in fiscal fourth-quarter revenue, reaching $335.8 million, up from a year-ago $267.3 million.

In reporting its eighth consecutive quarter of year-over-year growth, palmOne said net income for the same three months rose to $17.7 million, up from a year-earlier $13.3 million. Excluding costs and charges, three-month net income was $19.2 million, compared with $15.9 million the previous year.

The company said its carrier and channel partners reported “very strong sell-through on Treo smartphones in the fourth quarter, a 250 percent increase over the comparable three months in 2004, and 57 percent more than in the in preceding quarter. In the fourth quarter, ended May 30, the company shipped 377,000 smartphones with average selling prices increasing slightly while palmOne shipped 647,000 handheld units for the quarter, including the new LifeDrive.

Company president and CEO Ed Colligan said the company is looking forward to the company’s name change to Palm, Inc on July 14.

For the 12 months, palmOne revenue soared 34 percent, hitting $1.3 billion, up from $949.7 million in the same period a year ago. Net income for the 12 months climbed to $66.4 million, compared with a net loss of $21.8 million the previous year. Excluding costs and charges, 12-month net income was $78.9 million, compared with a year-ago $8 million.