Handspring Reports Amazing Revenue Growth
Handspring has just announced the results for its fiscal quarter and revenue rose a phenominal 632% to $115.6 million from $15.8 million a year ago. It increased 64% from the previous quarter. Strong holiday demand for Visors and continued channel expansion in the U.S. retail market, along with new distribution channels in Asia all contributed to the strong quarter.
Dispite the strong revenue, the company reported a loss, excluding special items, of $7 million, or 7 cents a share. The analysts' consensus was that they would lose 16 cents. Handspring's gross margins increased to 31.4%, up slightly from the prior quarter.
Donna Dubinsky, founder and CEO of Handspring, said, "We are extremely pleased to enjoy such strong customer acceptance of our products, including our two high-end handhelds, the Visor Platinum and the Visor Prism. Moreover, we executed very well in product development and delivery, expanded our distribution worldwide, and supported our developers in delivering more Springboard modules."
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