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palmOne has released the results from its most recent financial quarter. This was a significant period in the company's history, as it marked the spin-off of PalmSource and the aquisition of Handspring. If that weren't enough, Palm Inc. also changed its name to palmOne.

palmOne's results have two months of PalmSource results included in discontinued operations and one month of Handspring results included in income from continuing operations.

The company had revenue of $271.2 million for the quarter that ended November 28, which is up 5% from the $257.9 million reported during the second quarter a year ago.

Including discontinued operations, the net loss for last quarter was $4.1 million, or 11 cents per share, compared to net income in the same quarter a year ago of $3.5 million or 12 cents a share.

Income from continuing operations, in accordance with generally accepted accounting principles (GAAP), was $2.6 million, or 7 cents a share. This compares to income from continuing operations from the year ago quarter of $9.5 million, or 33 cents per share. Analysts had expected the company to post a GAAP loss of 2 cents a share last quarter.

During the quarter, palmOne sold 1.4 million handhelds and smart phones, bringing the total number the company has sold to 24.4 million. The company's ending cash and cash equivalents balance was $218.2 million.

"We're pleased with our progress this quarter," said Todd Bradley, palmOne president and chief executive officer. "Our fall launch was smooth, and our products immediately received broad and significant recognition. New business and consumer solutions helped us increase revenue, gain market share, improve inventory turns and achieve positive operating income.

For the current quarter, palmOne expects to post an adjusted loss of $14 million to $20 million. The company expects to pay some restructuring charges this quarter because, according to CFO Judy Bruner, they are shifting "towards higher growth and higher margins products." It expects revenue to be between $200 million and $215 million

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