NEW YORK (Thomson Financial) - Palm Inc. late Thursday said it swung to a
fiscal fourth-quarter adjusted loss of $23.9 million, or 22 cents a share, from
an adjusted profit of $17.8 million, or 17 cents a share, a year earlier.
Analysts polled by Thomson Reuters, on average, expected a loss of 18 cents
a share.
Revenue slid to $296.2 million from $401.3 million a year earlier, missing
the $301.1 million mean estimate.
The Sunnyvale, Calif.-based handset maker said sales of smartphones rose 19%
in fiscal 2008.
Shares of Palm closed the regular session at $6.54, down 4.4%.
Michelle Rama
mr/gm
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