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|Tue Jan 16, 2001 - 10:13 PM EST - By James Hromadka|
Handspring today posted revenues of $115.6 million for the second quarter of fiscal year 2001 which ended December 30, 2000. Quarterly revenues increased 64% over Q1, and over 600% compared to Q2 of last year, reflecting strong holiday demand for Handspring's Visor line of handheld computers. Continued channel expansion in the U.S. retail market, along with new distribution channels in Asia, also contributed to the strong quarter.Of course I"m happy that Handspring is closer to being in the black, but what I saw that was interesting was the blurb on the acquisition of Blue Lark: "With this acquisition Handspring intends to make Web browsing a core feature of its product offerings moving forward." I love using Blazer and hope that the app will be on the ROM of future Visor releases. Thanks to PalmInfoCenter for giving me the heads up.
Handspring's gross margins increased to 31.4%, up slightly from the prior quarter. Excluding amortization of deferred stock compensation, Handspring reported a net loss of $7.0 million during Q2. Excluding amortization of deferred stock compensation, total operating expenses were $45.6 million, or 39% of revenue. Including amortization of deferred stock compensation, net loss for the quarter was $15.2 million.
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