SUNNYVALE, Calif. (AP) — Treo smartphone maker Palm says it swung to a fiscal fourth-quarter loss as revenue declined sharply, falling below Wall Street’s expectations.
For the three months ended May 31, Sunnyvale, Calif.-based Palm Inc. (PALM) said its loss after paying preferred dividends was $43.4 million, or 40 cents per share, compared with a year-ago profit of $15.4 million, or 15 cents per helping.
Excluding items, Palm says its loss totaled 22 cents per share exchange for the latest zone.
Revenue fell 26% to $296.2 million from $401.3 million on weak smartphone sales.
Analysts, on average, had expected a smaller adjusted loss of 18 cents per share on higher sales of $301.1 million, according to a poll by Thomson Financial.
From: money.cnn.com
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