Palm Posts a Loss for Third Quarter
The handheld computer maker reported a loss of $172.3 million on revenues of $209 million for the third quarter.Handheld computer maker Palm Inc. on Thursday posted a loss for the third quarter of fiscal 2003. The Milpitas, Calif., company reported a loss of $172.3 million, or $5.93 per share, on revenues of $209 million for the third quarter, down 28.6 percent from last year when the company posted revenues of $292.7 million. The company attributed the loss to tepid demand and a variety of charges.
"The progressive recovery of the handheld industry is continuing, although still held back by weak economic fundamentals," said Eric Benhamou, Palms chairman and CEO, in a statement.