Handspring Quarterly Results Beat Expectations

Handspring released their first quarter 2001results late yesterday and losses were much lower than analysts had predicted. They reported a loss of $8 million, or 8 cents a share, compared with a $5.9 million, or 13 cent, loss reported by the company in the same quarter last year. Analysts had predicted a 12 cent per share loss. Handspring had revenues of $70.5 million, a 36% increase over last quarter, which they credited to strong demand for both Visors and Handsprings in the U.S. and new distribution channels abroad.

Handsping CEO Donna Dubinsky said, "We feel very positive about our position as we head into the holiday season."

In one of those complicated deals only stock brokers and accountants understand, Handspring actually lost 17 cents per share but by excluding costs from deferred stock compensation, Handspring's loss amounted to 8 cents per share.

The full details are available here.

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