Palm rings up strong revenue, profits for year

With good sales of its Treo smart phone, Palm has reported strong fourth-quarter and year-end sales and profits.

For the quarter, sales totaled $US403.1 million, up 20 per cent from last year. For the full 2006 fiscal year, revenue was $US1.6 billion, a gain of 24 per cent over 2005.

Profits jumped, also. For the quarter, net income was $US27.2 million compared to last year's figures of $US17.7 million. Yearly profits were up even more. Net income for 2006 was $US336.2 million. That's just over five times the figure for 2005, which was $US66.4 million.

The income came in large part from shipping 4.7 million Palm devices, including 2.3 Treo smart phones. The company recently introduced the Treo 700w, the first Palm device to run a Microsoft Windows operating system and the 700p, the most recent version of Palm's own software.

Palm said it had now reaped $US1 billion in Treo revenue since the introduction of the brand.

In a statement, Palm president and CEO, Ed Colligan, said the company expected revenue to grow 20 per cent to 25 per cent in fiscal 2007, with gross margins of 33.8 per cent to 34.8 per cent. R&D in 2007 will be 10 per cent to 10.5 per cent of the total revenue.

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