Palm profits up 147 per cent

NEWS Handheld PC-maker Palm has more than doubled its profits and turnover, according to its latest set of financial results. The company's fourth quarter revenues rose 101 per cent on the same period last year, while it's net income rose 147 per cent. The former 3Com subsidiary reported revenues of $350.2m for the quarter up to 2 June. Profits reached $16.9m. Palm CEO, Carl Yankowski said the company's positive IPO and marketing efforts helped to contribute to the success, despite industry-wide component shortages.