MILPITAS, Calif.-PalmOne Inc.’s first-quarter fiscal-year 2005 earnings showed the company’s revenue grew to $273.1 million, reflecting a 62-percent increase from the year-ago quarter. Net income was $19.6 million, or 38 cents per share, compared with a loss of $16.9 million, or 57 cents per share, a year ago.
“Our handheld and smart-phone solutions performed very well in the marketplace. Outstanding products plus operational excellence resulted in strong growth and profitability,” said Todd Bradley, PalmOne’s chief executive officer. “Excitement is mounting in our category, and we’re confident that our innovative products coupled with our excellent distribution through retail and carrier channels will help us maintain and extend our market leadership.”
During the third quarter, PalmOne expanded its relationship with T-Mobile USA Inc. and initiated a relationship with Verizon Wireless for the Treo 600. Since the quarter ended, the company announced Canada’s Bell Mobility and Spain’s Vodafone as customers.
The company said it shipped 981,000 Zire, Tungsten and Treo line devices during the first quarter, bringing the total number of those devices shipped to 27.4 million.
PalmOne was trading up about 5 percent at $37.28 per share at market close Monday.
