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PalmOne Reports Q4 Profit

PalmOne today reported a profitable fourth quarter of fiscal year 2004, ended May 28, with revenue totaling $267.3 million, up 23 percent from the $217.1 million reported during the comparable quarter a year ago, and up 10 percent sequentially.

Net income was $13.3 million, or $0.27 per share. This compares to a net loss for the fourth quarter of fiscal year 2003 of $15.0 million or $0.51 per share and net loss for the third quarter of fiscal year 2004 of $9.3 million or $0.20 per share.

“We achieved profitability for the quarter, and demand remains strong for our handheld and smartphone products,” said Todd Bradley, palmOne chief executive officer. “We ended fiscal year 2004 with very good results across virtually every key financial metric, and we enter fiscal year 2005 with an optimistic outlook for accelerating growth and increasing profitability.”

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