Handspring Reports Amazing Revenue Growth

Posted By: Ed Tuesday, January 16, 2001 5:41:47 PM

Handspring has just announced the results for its fiscal quarter and revenue rose a phenominal 632% to $115.6 million from $15.8 million a year ago. It increased 64% from the previous quarter. Strong holiday demand for Visors and continued channel expansion in the U.S. retail market, along with new distribution channels in Asia all contributed to the strong quarter.

Dispite the strong revenue, the company reported a loss, excluding special items, of $7 million, or 7 cents a share. The analysts' consensus was that they would lose 16 cents. Handspring's gross margins increased to 31.4%, up slightly from the prior quarter.

Donna Dubinsky, founder and CEO of Handspring, said, "We are extremely pleased to enjoy such strong customer acceptance of our products, including our two high-end handhelds, the Visor Platinum and the Visor Prism. Moreover, we executed very well in product development and delivery, expanded our distribution worldwide, and supported our developers in delivering more Springboard modules."

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One Succesful Company

John Shehata @ 1/16/2001 10:10:10 PM #
Its nice to see that they are doing well. I think that you are looking at the next Dell for the palm OS. Toghether, they make a great product.

And yet

GrouchoMarx @ 1/18/2001 2:54:15 AM #
And yet, despite amazing sales growth, they are STILL losing money. All Visors lack FlashROM and have less-than-top-of-the-line screens, which are the two most expensive components. How can they still be operating on margin and ever hope to be successful in the long run? How do companies think they can survive by losing money? More importantly, how do investors and buyers think a company can survive by losing money?

--GrouchoMarx

Yeah!

Eston Bond @ 1/21/2001 10:27:25 AM #
The Palm OS is doing great. Yeah! Go Handspring!

Eston Bond
CEO Pine Tree Software
http://www.pinetreesoftware.net/

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