SUNNYVALE, Calif.-Operating system vendor PalmSource Inc., which is being acquired by Japan’s Access Co. Ltd., posted a widening net loss and declining shipments, but its results came in above some analysts’ expectations. The company’s stock remained relatively unchanged after its announcement, hovering around $17.94 per share.
PalmSource scored $15.8 million in revenues, down from the $18.2 million it reported in the same quarter a year ago. The company’s net loss increased from $200,000 a year ago to $2 million in the quarter. Analysts polled by Thomson Financial Network had predicted the company would record $14.6 million in revenues and a slightly larger net loss.
PalmSource said its Palm OS licensees shipped a total of 1.2 million devices in the quarter. In the same quarter last year, licensees shipped 1.4 million devices. The Palm OS slowly has been losing traction to the likes of Microsoft Corp. and Symbian.
