Palm Inc. reported substantially increased income and revenue for both its fourth quarter and fiscal year 2006, ended June 2. The Sunnyvale, Calif.-based PDA and smart phone vendor attributes the gains to increased sales of its Treo smart phones.
Palm's net income in the fourth quarter totaled $27.2 million, up 54% from the same period last year. Quarterly revenue increased 20% to $403.1 million.
For all of fiscal 2006, the company earned $336.2 million, compared with $66.4 million last year. Annual revenue rose 24% to $1.6 billion.
Palm reports it shipped 2.3 million Treo smart phones during fiscal 2006, with 623,000 of them in the fourth quarter. It also shipped 2.5 million PDAs during the year, with 495,000 of them going out in its fourth quarter.
Vendor executives expect revenue growth of 20% to 35% during fiscal 2007. For more information, go to palm.com.
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