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PalmOne sees increasing demand for Treo

MILPITAS, Calif.-PalmOne Inc. said it had revenues of $242.5 million for the third fiscal quarter of 2004, which ended Feb. 27. The revenues represented an increase of 22.6 percent from the $197.9 million reported during the same time last year.

Net loss for the quarter was $9.3 million, or 20 cents per share, compared with a net loss of $172.3 million, or $5.93 per share, during the same period last year. The $9.3 million net loss included restructuring charges of $4.5 million and amortization of intangible assets and stock-based compensation of $5.4 million.

During the quarter, PalmOne said it sold about 938,000 handhelds, for a total of 25.3 million devices sold.

“Over the past quarter, we strengthened our leadership in handhelds and saw excellent demand for our Treo smartphone,” said Todd Bradley, PalmOne president and chief executive officer. “The strong results this quarter show that our strategy of delivering scale from the handheld product line, coupled with growth from the wireless product line, is working. We are very excited about our prospects.”

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