Palm Reports Loss Despite Sales Edging Higher
Smart phone maker Palm shifted to a loss in its most recent quarter, though the deficit wasn't as deep as analysts had forecast.
Excluding one-time items, the maker of the Treo and Centro mobile devices reported a loss of 12 cents a share in its fiscal first quarter on sales of $366.9 million.
On the same basis last year, Palm earned a profit of 9 cents a share on sales of $361 million in the same period last year.
Analysts who follow Palm expected the company to turn in a loss of 18 cents a share on sales of $325 million, according to a consensus from Thomson Reuters.
Palm shares, which which rose 17.75 percent to close Thursday at $8.49 , were down roughly 4 percent in late trading.
Palm released a new version of its once-popular Treo line during the quarter. The device runs on the Windows Mobile platform from Microsoft and is available exclusively through Sprint .
Palm's shares were down almost 6 percent in after-hours trading.