Palm shipped a total 960,000 smartphones in its fiscal third quarter to 26 February, up almost 300 percent from a year earlier. Smartphone sell-through for the quarter was 408,000 units, down 15 percent year-over-year. The company's revenues increased to USD 349.9 million from USD 90.6 million a year earlier. In accordance with two recently released accounting standards related to revenue recognition, these results include the effects of accounting for multiple-element arrangements, including ratable revenue recognition for the future deliverables for Palm webOS products as required by GAAP. Net loss attributable to common stockholders narrowed to USD 22 million or USD 0.13 per diluted common share from USD 98 million or USD 0.89 per diluted common share. Adjusted EBITDA loss widened to USD 90.2 million from USD 78.6 million in the year-ago quarter. Cash and cash equivalents amounted to USD 376.2 million at the end of Q3.
