PalmOne Announces Good Quarter, Change to Palm July 14th

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PalmOne today announced good financials for the quarter and for their fiscal year, fueled mainly by the Treo 650, Tungsten E/E2 and the introduction of the LifeDrive. The official name change back to Palm will take place on July 14th, along with a new ticker symbol, PALM.

“We’re very pleased with the company’s performance during the quarter and the fiscal year,” said Ed Colligan, palmOne president and chief executive officer. “Our carrier and channel partners reported very strong sell-through on Treo smartphones for the quarter — a 250 percent increase over the comparable quarter last year and 57 percent more than in the third quarter of fiscal year 2005.”

Other notes of interest:

  • The Treo 650 has expanded both domestic and international markets with availability in the United States with Verizon Wireless and with EarthLink Wireless; in Canada on the Rogers Wireless high-speed EDGE network; in Australia with Telstra Mobile; in France, the UK and Switzerland with Orange; in Holland with KPN; in Spain with movistar (Telefonica Moviles Espana); in Italy with Telecom Italia Mobile (TIM); in Argentina on Personal’s EDGE Network; in Mexico with Telcel’s EDGE network; and in Venezuela through Digitel TIM — most of which involved carrier customization prior to commercial availability.
  • PalmOne introduced the Tungsten(TM) E2 handheld, featuring Bluetooth wireless technology, to build on the popular Tungsten E, which had been the top-selling handheld in all U.S. channels for 18 months, using data from The NPD Group. Combined sales of the Tungsten E and Tungsten E2 accounted for approximately 22 percent of the total U.S. retail market in April and May 2005.
  • Created a new category of mobile-computing device for business productivity and entertainment applications with the introduction of the LifeDrive(TM) mobile manager. It features a hard drive and two wireless technologies, Wi-Fi and Bluetooth. LifeDrive is #6 in sales and #3 in total revenue of all PDAs, which is remarkable given the late release in the quarter.
  • Realized carrier and channel-reported sell-through to end-user customers of 442,000 Treo smartphones vs. 126,000 in the comparable quarter last year and 282,000 in the third quarter of fiscal year 2005.
  • Extended the license for Palm OS(R), ensuring the capability to develop Palm Powered(TM) products through 2009. This renewal is not exclusive though, leaving PalmOne the freedom to pursue other operating systems.




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