Handspring Loss Narrower Than Seen
MOUNTAIN VIEW, Calif. (AP) _ Handheld computer maker Handspring Inc. reported a first-quarter loss of $16.4 million on Tuesday, beating analysts’ expectations.
For the three months ended Sept. 30, Handspring lost 17 cents per shares on revenue of $70.5 million.
Excluding costs from deferred stock compensation, Handspring’s loss amounted to 8 cents per share. Analysts surveyed by First Call/Thomson Financial had expected a loss of 12 cents per share.
Handspring has been publicly traded only since June, so comparable earnings figures for a year ago were not available.
Handspring shares rose 31 cents on the Nasdaq Stock Market to $77.88 _ after moving as high as $85 during trading Tuesday. During after-hours trading, shares dropped to $74.31.
The company said demand for the Handspring products remain strong. ``We feel very positive about our position as we head into the holiday season,″ said CEO and founder Donna Dubinsky.
Handspring, founded in 1998 by the creators of Palm’s operating system, licenses its rival’s platform for its Visor line. Visor has become a popular alternative because of the Springboard expansion slot, which can turn it into a digital camera, a cellular phone or an MP3 player, for example.
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