Handheld computer maker palmOne Inc on Thursday reported that fourth-quarter profit jumped 33 percent on strong sales of its Treo mobile phones, and said it sees first-quarter profit and revenue above analysts' estimates. The stock gained 8 percent in early trading.
The Milpitas, California-based company, which plans to go back to the name Palm Inc next month, said net income rose to $17.7 million, or 35 cents a share, for the period ended May 31, from $13.3 million, or 27 cents a share, a year ago.
Excluding costs from amortising certain assets, employee compensation, and restructuring charges, profit was 37 cents a share. Analysts, on average, expected 31 cents a share, according to Reuters Estimates.
Revenue increased to $335.8 million from $267.4 million.
During the quarter, sales of the pocket-sized Treo, which marries a mobile phone with a digital organiser, more than doubled to $182.6 million, a trend the company expects to continue.
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