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SAN FRANCISCO -- Smartphone maker PalmPALM reported a wider-than-expected loss in the fourth quarter as revenue declined about 26%. Shares of Palm fell more than 7% in after-hours trading to $6.03. The company lost $43.4 million, or 40 cents a share, compared with net income of $15.4 million, or 15 cents a share, the same quarter a year ago. Excluding charges, the loss was was $23.9 million, or 22 cents a share. Revenue fell to $296.2 million from $401.3 million a year ago. Analysts polled by Thomson Reuters were expecting revenue of $301.1 million and a loss of 18 cents a share, excluding charges. Smartphone sell-through for the quarter was 968,000 units, up 29% from the year before, said Palm. "We continue to invest in Palm's future and remain focused on building long-term value," Palm CEO Ed Colligan said in a statement. "Centro is a tremendous hit, we are gaining market share, and we believe with this momentum, and the launch of new Windows Mobile products, we will turn the corner and return to revenue and margin growth." Palm launched its $99 Centro smartphone on Sprint Nextel'sS network last year. Shares of Palm closed down 30 cents, or 4.4%, to $6.54. Palm's poor results come a day after its larger rival Research In MotionRIMM fell shy of consensus estimates for the first quarter and offered mixed outlook for the current quarter. RIM shares closed down $18.88, or 13.3%, to $123.46.
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