Palm ignores sales speculation to report Q3 results

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Palm unveiled its third quarter financial results yesterday, reporting revenue of more than $410 million and a 30 per cent increase in smartphone sales since the same period last year.

But not all of the company's financial were in as good a shape, with net income coming in at $11.8 million, which is considerably lower than 2006's third quarter net income tally of $29.9 million.

The mobile device giant, which is currently operating against the backdrop of increasing speculation that it might be put up for sale, sold 738,000 smartphone units during the quarter ending March 2, a 20 per cent hike in the previous quarter.

"We delivered solid results in the third fiscal quarter and continue to expand our global market presence," said Ed Colligan, Palm's president and chief executive.

"Treo smartphone sell-through and revenue reached record levels, and Palm products were available to smartphone customers through seven of the top 10 carriers in the world."

Palm also used the financial reporting as an opportunity to detail how the remainder of its fiscal year, which ends on June 1, may pan out and is anticipating revenue to be in the region of $400 million to $410 million.

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