CEO Donna Dubinsky said her company met its revenue and expense targets for the quarter — it pulled in $61.4 million for the its Q1. Regardless, Handspring still recorded a net loss of $32.7 million, factoring amortization of deferred stock compensation.
Highlights for the company this past quarter included the introduction of the Visor Neo and Visor Pro models. This week, the company also introduced the Treo, a device to be released next year that combines a cellular phone, paging system and PDA into a single device. Handspring also noted continued developer interest in its Springboard expansion port, which enables Visor devices to support additional hardware. Handspring said more than 60 modules are now available, including new devices like phone modules from Spring PCS and Arkon Networks.
Quarter to quarter, Handspring’s revenue remained essentially flat. For the fourth quarter of the company’s last fiscal year, which ended June 30, it reported $61 million in revenue — $400,000 less than this quarter. The company noted a 13 percent decrease in revenue compared to the same quarter last year, attributing the drop to “overall economic slowing and increased price competition.”