Palm has announced its latest financial results, claiming successes with its new touch-screen handset, although the firm still posted a loss of more than $100m for the quarter.
The firm's latest losses were lower than analyst expectations, helped by recent releases such as the Pre smartphone.
Palm reported that total revenues in the fourth quarter ending 29 May were $86.8m (£52.6m), down more than 70 per cent. Gross profit was $20.1m (£12.1m), but the firm posted a net loss of $105m (£64m).
Although only recently launched, the impact of the Pre was keenly felt and appreciated, as was the firm's new mobile operating system.
“The launch of Palm webOS and Palm Pre was a major milestone in Palm’s transformation; we have now officially reentered the race,” said Jon Rubinstein, Palm’s chairman and chief executive.
“We have more to accomplish, but the groundwork is laid for a very promising future here at Palm. Our senior management team is capable, motivated and focused on execution; there is a large group of developers waiting to build great applications for Palm webOS; and we have a new product pipeline that we think will set a standard for the industry.”
Palm shipped 351,000 smartphone units during the quarter, representing a six per cent increase against the third quarter of 2009. Over the full twelve months, Palm moved some 2,407,000 handsets, a 25 per cent decline against 2008.
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