Palm Quarterly Revenue up 25% Year over Year
Palm - About Palm, Inc. - Investor Relations - Press Release
Palm Reports Q1 FY06 Results; Quarterly Revenue $342.2M; Up 25% Year over Year
SUNNYVALE, Calif.--(BUSINESS WIRE)--Sept. 22, 2005--Palm, Inc. (Nasdaq:PALM) today reported revenue of $342.2 million in its first quarter of fiscal year 2006, ended Sept. 2, up 25 percent from the year-ago period and marking the ninth-consecutive quarter of year-over-year growth.
Net income was $18.2 million, or $0.35 per diluted share. This compares to net income for the first quarter of fiscal year 2005 of $19.6 million, or $0.38 per diluted share, and net income for the fourth quarter of fiscal year 2005 of $17.7 million, or $0.35 per diluted share.
Net income in the first fiscal quarter, measured on a non-GAAP(1) basis, totaled $21.1 million, or $0.41 per diluted share, excluding the effects of amortization of intangible assets and deferred stock-based compensation. This compares to non-GAAP net income in the first quarter of fiscal year 2005 of $21.9 million, or $0.43 per diluted share, which excluded the effects of amortization of intangible assets and deferred stock-based compensation.
The company generated $48.5 million in cash and cash equivalents from operations in its first quarter of fiscal year 2006, bringing the total cash and investments balance to $411.3 million at quarter's end. DSO, or days sales outstanding, were 34 days at the end of the quarter compared with 44 days in the year-ago period.
"We're pleased with the company's performance during the quarter," said Ed Colligan, Palm president and chief executive officer. "Treo smartphone sell-through was 470,000 units, which reflects an increase of more than 160 percent from the year-ago period. Our share in the handheld-computer market rose, and we're excited about our overall product roadmap."
