Palm Earnings Fall While Sales Rise On Smartphone Demand

Palm saw its earnings fall for the first quarter of 2007, coming in at $11.8 million compared to $29.9 million for the same period in 2006 — although last year the result was skewed by a gain stemming from a tax reversal, reports easyBourse. If charges for stock-based compensation and other items are excluded Palm’s earnings for Q1 would have been $16.5 million, or 16 cents per share. The company saw revenue grow more than 5 percent to $410.5 million for the period, compared to $388.5 million last year. Palm shipped 738,000 smartphones in Q1, a 30 percent yearr-on-year increaes.
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