Earnings: Palm’s Financial Results Sink Without Revenues Flowing In From Pre Yet

Palm HQ Logo

Palm (NSDQ: PALM) reported dismal earnings today for the fourth quarter, which ended before the company’s blockbuster new device — the Palm Pre — went on sale June 6. The company’s net loss for the quarter ended May 31 totaled $105 million and for the year it totaled $753 million. Revenues for the fourth quarter totaled $86.8 million, compared to $735.9 million in Q4 2008.

Release. Earnings call (1:30 PST).

Other results:

Phones shipped: The company shipped 351,000 smartphones during in Q4, increasing 6 percent from Q3, and declined 62 percent year-over-year.

Cash: The company’s cash, equivalents and short-term investments total $255.1 million. Cash used in Q4 was $72.4 million.

Comments have been disabled for this post