Palm Spanks Estimates With a Loss

(Updated with stock price and comments from Palm)

Palm (PALM Quote) blew past estimates with better-than-expected losses and strong sales.

The Sunnyvale, Calif.-based smartphone maker posted an adjusted loss, excluding one-time items, of $53.4 million, or 40 cents a share. That is a wider loss than the $23.9 million, or 22-cent loss in the year-ago period. Analysts were looking for a loss of 62 cents a share, the midrange between estimates as low as a 27-cent loss and as much as 83 cents a share.

Sales for the company's fiscal fourth quarter ended May 29 were $113.2 million, well below the $296.1 million book a year ago, but above the $80.6 million analysts were looking for. ...