December 18, 2007 / 9:13 PM / 11 years ago

Palm posts quarterly loss after product delay

SAN FRANCISCO, Dec 18 (Reuters) - Palm Inc PALM.O, the maker of Treo smartphones, posted a quarterly loss on Tuesday after a delay of a key new product.

Palm’s net loss for the fiscal period ended November 30 was $9.63 million, or 9 cents per share, compared with net income of $12.8 million, or 12 cents per share, a year earlier.

Revenue fell to $349.6 million from $392.9 million.

Palm earlier this month said shipments of its Treo 755 model, which the company had expected to to have been certified in the quarter, would be delayed.

It also said increased warranty expenses and higher-than-expected shipments of a lower-end model led it to the lower profit margins.

Reporting by Philipp Gollner in San Francisco and Franklin Paul in New York, editing by Leslie Gevirtz

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