Beleaguered Palm Inc. swung to a loss for its fourth fiscal quarter as revenue fell by 26% amid slowing sales of many of its devices.
“For the quarter ended May 31, Palm reported a net loss of $43.4 million, or 40 cents a share, compared to earnings of $15.4 million, or 15 cents a share, for the same period last year,” Dan Gallagher reports for MarketWatch. “On a non-GAAP basis, the company said net losses totaled $23.9 million, or 22 cents per share.”
Gallagher reports, “Revenue fell to $296.2 million from $401.3 million last year.”
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We’ve learned and struggled for a few years here figuring out how to make a decent phone. PC guys are not going to just figure this out. They’re not going to just walk in. – Palm CEO Ed Colligan, commenting on then-rumored Apple iPhone, Nov. 16, 2006