palmOne Raises Q2 Revenue Outlook
There is a good financial piece in the Dow Jones Business News that talks about palmOne's heightened financial expectations following the PalmSource spin-out and Handspring acquisition. The company now expects to break even in its fiscal Q2.
The article, by Dow Jones correspondent Amy Braunschweiger, talks about palmOne's revised revenue outlook for the quarters ahead. The piece focuses mostly on financial performance and the potential for future handheld growth. PalmInfocenter attended the same analyst conference and will have our report published shortly.
The company is bullish on future prospects based on strong current demand for existing models, improved company operational discipline, the Handspring acquisition and significant improvements in products going forward.
PalmOne expects to be profitable each year beginning in fiscal 2005, according to generally accepted accounting principles, Chief Executive Todd Bradley said.
PalmOne shipped 48,000 units of its recently released Treo 600 smartphone in September and October, Chief Financial Officer Bruner said.
Looking to fiscal 2005 and 2006, the company expects operating earnings to grow between 2% and 5%, with operating expense growth of 23% and 25% and gross margins between 25% and 30%.
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