Palm Posts 53% Jump in Fiscal 4th-Quarter Profit

Palm Inc., the maker of Treo e-mail phones, said fiscal fourth-quarter profit rose 53% to $27.2 million or 25 cents a share, as demand for its devices increased. Sales climbed 20% to $403.1 million.

Sunnyvale, Calif.-based Palm said profit in the current period would be 18 or 19 cents, excluding some costs, below the 22-cent average of analysts in a Thomson Financial survey.

Shares of Palm lost $1.66, or 8.8%, to $17 in extended trading. Earlier, the stock had closed down a penny at $18.66.