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Palm revenue drops 47 per cent in Q1

Palm revenue drops 47 per cent in Q1

Palm revenue dropped 47 per cent in the first fiscal quarter of 2002, compared to a year ago, in the face of slow demand and increased competition.

For the first quarter, which ended August 31, Palm reported revenue of $US214.3 million, with a pro-forma net loss of $38.7 million.

That revenue figure is down from the $401 million the company reported in the first quarter of 2001. Palm's pro-forma net income in that quarter was $23.9 million.

Palm shipped 750,000 devices during the quarter, about half what it shipped in the year-ago quarter, Palm said.


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