Palm Reports Q4 and FY 2009 Results
On a non-GAAP basis, Adjusted Revenues in the fourth quarter totaled $113.2 million, Adjusted
Gross Profit was $30.4 million and Adjusted Gross Margin was 26.8 percent.
“The launch of Palm webOS and Palm Pre was a major milestone in Palm’s transformation; we have now officially reentered the race,” said Jon Rubinstein, Palm’s chairman and chief executive officer. “We have more to accomplish, but the groundwork is laid for a very promising future here at Palm. Our senior management team is capable, motivated and focused on execution; there is a large group of developers waiting to build great applications for Palm webOS; and we have a new product pipeline that we think will set a standard for the industry.”
The company shipped a total of 351,000 smartphone units during the quarter, representing a 6
percent increase from the third quarter of fiscal year 2009 and a year-over-year decline of 62
percent. Smartphone sell-through for the quarter was 460,000 units, down 5 percent vs. the third quarter of fiscal year 2009 and down 52 percent year-over-year.
In addition to the prepared statements that where posted on Palm's website, there where a few other items of interest that I took away from listening to the conference call.
- Palm is continuing to wrap up production of the Pre to meet demand
- US penetration for smartphones is 19%, 11% globally
- A user experience that delights the customer was mentioned twice
- The Mojo SDK program is being expanded; everyone will have access by the end of September
- Palm plans to continue to roll out fixes and software enhancements to webOS that will be free to Pre customers
- The Pre did not go on sale during Palm's Q4 period
- Canada's Bell Mobility is the next carrier to begin shipping the Pre
Palm still has a lot of work cut out for them, but after a long and hard road that started two years ago, we finally have a Palm that is really up to the challenge of building some new powerful solutions that we haven't seen in a long time from the company.
You can read the full Q4 and FY 2009 results document on the Palm website.