Search

This article reports on the financial performance of Milpitas, California-based handheld computer maker palmOne in the fiscal year ended May 31, 2005. The company reported a 26 percent increase in its fourth-quarter revenue from its earnings in 2004. The net income of the company 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 in 2004. The company reported that it shipped more than 1 million Zire, Tungsten, Treo and LifeDrive family devices during the fourth quarter and about 4.5 million during the 12 months. 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. For the 12 months, palmOne revenue soared 34 percent, hitting $1.3 billion, up from $949.7 million in the same period in 2004. Net income for the 12 months climbed to $66.4 million, compared with a net loss of $21.8 million in 2004. Excluding costs and charges, 12-month net income was $78.9 million, compared with the $8 million net income in the same period in 2004.