Handspring Loss at $32 Million on Slow Sales
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Handspring Inc. said its first-quarter loss widened to $32 million on lower sales, hurt by tough competition and slumping demand in the hand-held computer industry.
The Mountain View, Calif.-based firm said its fiscal first-quarter loss, excluding special items, was $32.7 million, or 28 cents on a per-share basis, compared with a loss of $16.3 million, or 17 cents a share a year ago.
First-quarter revenue was $61.4 million, off 13% from $70.5 million in the year-earlier period.
Handspring shares lost 32 cents to close at $2.66 on Nasdaq.
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