Palm posts loss
Perhaps Palm really does have the “special sauce” needed to attain smart phone leadership,as RBC Capital Markets analyst Mike Abramsky recently claimed. Reporting first-quarter results this afternoon, the company posted a narrower-than-expected loss and announced plans for a common-stock offering of 16 million shares.
Excluding charges related to stock options and other items, Palm (PALM) said net losses were $13.6 million, or 10 cents a share, for the recent period. Revenue slipped to $68 million from $366.9 million in the same period last year. Excluding revenue deferred from sales of the company’s new Pre handset, Palm said adjusted revenue would have been $360.7 million. Analysts had expected the company to turn in a loss of 24 cents a share on sales of $291 million.



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