SUNNYVALE, Calif.-PalmSource Inc. reported declining revenues and net income in its third quarter, and predicted a net loss of between $4 million and $7 million for the coming quarter. The dismal news sent the company’s stock down almost 17 percent to about $18.24 per share.
PalmSource, which sells the Palm operating system to personal digital assistant and smart-phone makers, said its revenues for the third quarter were $21.6 million, down from the $26.3 million it reported in the same quarter a year ago. The company’s net income totaled $600,000, down from the $700,000 in net income it reported in the same quarter last year.
Further, the company said it expects revenues for its upcoming fourth quarter to clock in at around $17 million.
