Handheld PC manufacturer Palm has unveiled robust financial performance in Q4 as sales increased to $233.3 million. Despite posting a loss per share of three cents before special items, Palm’s performance in Q4 remained in line with analyst’s expectations. However, Palm warned that it expects a fall in sales and an increase in operating losses over the next financial period due to a traditional seasonal slump in sales over the summer months.
Palm said it anticipates that the handheld PC market will recover to double-digit growth by Spring 2003. The company also said that it plans to improve production costs and cut expenditure during the next financial year. These cost cutting measures will be followed by the introduction of a number of new products and the sell off of Palm’s software subsidiary, PalmSource.