Palm has reported revenues of $225.8 million for the fourth quarter of fiscal year 2003, ended 31 May 2003, down 3.2% from $233.3 million reported during the comparable quarter a year ago and up 8% sequentially.
Palm, which consists of Palm Solutions Group and PalmSource, reported a net loss of $15 million, or $0.51 per share. This included restructuring charges of $2 million, which included costs of vacating real estate locations and severance payments, amortisation of intangible assets of $0.4 million and separation costs of $3.8 million associated with the pending spin-off of PalmSource.
This compares to a net loss for the fourth quarter of fiscal year 2002 of $27.5 million, or $0.95 per share, and a net loss for the third quarter of fiscal year 2003 of $172.3 million, or $5.93 per share.
"We end the year with favourable momentum on virtually every key metric of our corporate dashboard," says Eric Benhamou, Palm chairman and interim CEO. "We are gratified to see our efforts to reinvigorate product innovation and to re-energise the market rewarded and our unit demand return to positive growth territory.
"While the economic context continues to be a challenge, we believe our opportunities for growing shareholder value have improved."
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