Handspring Revenues Up Only Slightly
Handspring has just announced the results for its most recent quarter, which ended in September. In it, the first quarter of its 2002 fiscal year, the company's revenues were lower than expected but so were its losses. Revenues were at $61.4 million, a slight increase over the $61.0 in the previous quarter. Analysts had predicted sales of $67 million. While Handspring lost $26.2 million which works out to be 22 cents per share, analysts had predicted that the company would lose 26 cents a share.
"I am pleased that we were able to meet our revenue and expense targets for the quarter in spite of a very challenging environment,'' said Handspring CEO Donna Dubinsky.
In recent months, Handspring has been involved in a price war with Palm Inc. that has driven down the selling price of both companies' handhelds and reduced their revenues. In August, the average price for a Visor was $194, a 15.7% drop over the past year. Handspring's quarterly revenues have dropped 13% during that same time.
Handspring expects to take a loss during this current quarter of about 15 cents a share. It expects revenues to rise slightly. "Though the December quarter is typically a strong quarter for this industry, current economic, political and market issues demand we be conservative in our expectations,'' the company said in a prepared statement.
Despite current uncertainties, Ms. Dubinsky predicts her company will be profitable by the middle of 2002. The Treo will be a big part of this. "We are well positioned to be a leader in a vast new category and a major new generation of devices," she said.
Handspring is already the number two handheld maker with 19.5% of retail sales during August.
This announcement came after the close of the stock market. Handspring's stock had seen a resurgence recently after the announcement of the Treo line of wireless handhelds. Today, however, it lost 32 cents or about 11% of its value.
Thanks to Ravdeep for the reminder. -Ed
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RE: YOU must GO !!!!
RE: Yankerkowski must GO !!!!
You must be an apologist for Yankowski and probably wipes his a** on demand.
RE: You must GO !!!!
I hope Handspring can get back on its feet. The Treo looks great. If they can just keep going until GPRS kicks in they will have a real Blackberry killer.
RE: Yankerkowski must GO !!!!
Has Palm run out of money?
RE: Yankerkowski must GO !!!!
Price War??
The Neo and Pro are no-where to be seen.
When Handspring dropped prices in the US there was no drop here, but Palm prices droped in Australia _before_ they did in the states!
I guess I'll just have to buy a new Palm...
When their next color device comes out...
The $100 cut in price to the Prism I think foreshadows a new color Visor on the horizon. They cut the prices of the Visor Solo, Deluxe and Platinum about a month before the Neo and Pro came out. If they come out with another dazzler in next couple of weeks, their stock might fly even higher. Let's say they produce a device with the form factor of the Edge, a 320x320 65,000 color screen, 16M of memory, and the usual improvements to software (DateBook+, Fast Lookup, etc.). Would their stock fly high off of that?
I sure wish I had invested in them on Monday of last week, I could have doubled my money.
RE: When their next color device comes out...
RE: When their next color device comes out...
If you want to debate expandability, start a new thread to talk about it (and throw your name in there while you're at it). I started this thread hoping to hear predictions/speculations about how Handspring's stock will perform when they come out with their next color Visor before christmas.
Thanks,
Scott
RE: When their next color device comes out...
What's *lousy* about the Springboard is the size, the fact that it's too bulky, and not an industry standard.
There are lots of expansion options for the visor, but the expansion devices are so bulky no one is going to carry more than one or two with them.
It makes much more sense for Handspring to adopt industry standard expansion scheme (particularly one that's smaller in size).
-john
Revenues were at $61.4 million????????
RE: Revenues were at $61.4 million????????
The trend is clear, Palm is screwed.
RE: MicroTroll
They made this prediction even after looking at Pocket PC 2002 and the new handhelds that will be released using it. They appear to think that these won''t be enough to increase Microsoft''s share of the market and certainly not enough to overshadow the Palm OS for at least 4 more years.
IDC analyst Alex Slawsby says this is because corporations have been less aggressive in adopting handheld computers than predicted. Microsoft has done everything it could to make large corporations like their OS and they weren''t interested. This isn''t my opinion, it''s Slawsby''s.
That gives Palm Inc. at least 4 years, which is about 3 more that will be necessary to come out with OS 5 on ARM chips, which will negate even the percieved Pocket PC advantages. Ignore what the doomsayers and MicroSerfs say, the Palm OS will continue to dominate the handheld market through at least 2005.
p.s. Did I mention that the Palm OS will continue to dominate the handheld market through at least 2005?
OK - so go load up on PALM shares!!!
RE: Revenues were at $61.4 million????????
RE: MicroTroll
RE: Trust Who?
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Yankerkowski must GO !!!!
It ain't going to be pretty when PALM reports.
Yankerkowski must GO. Remember: this is the clown who did some accounting magic: lowered his bonus and jacked up his salary to net the same compensation of $667 !!!! While he was conducting creative accounting and helping out his bottomline (and stomach girth), he whacked employees left-and-right and forced survivors to take a pay cut.