Palm beats analyst expectations

NEWS Palm, still the leading provider of handheld computers, has reported better than expected first quarter results. The company recorded a pro forma loss - which excludes the company's infamous write-off of excess inventory - of $38.7m or 7 cents per share. Analyst consensus forecasts were for a loss of 11 cents per share. Revenue for Q1 stood at $214.3m. This figure is down 47 per cent from the figure reported for the corresponding three months last year, although Palm pointed out it is up 30 per cent on the $165.3m announced last quarter. Palm CFO Judy Bruner told analysts on a conference call that working toward profitability remains a top priority. Separately, Palm said it will cancel its PalmSource developer conference, due to be held in the San Jose Convention Center, on 23 to 26 October out of respect for the events of last week. It is likely to be re-scheduled for the end of this year or early next year.