Palm will record a $2.7 million stock-based compensation expense ...
Palm will record a $2.7 million stock-based compensation expense for new Executive Chairman Jon Rubinstein’s option and restricted stock unit grants, the company said in an SEC filing. The former Apple executive joined Palm as Elevation Partners agreed to…
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invest $325 million in the company. Palm got $64.5 million from a June land sale, it said. The company will take a charge of less than $10 million from dropping its Foleo mobile companion product, introduced this year, it said. In the fiscal year ended June 1, Palm smartphone sales rose to $1.25 billion from $1 billion year earlier; those of handheld PCs fell to $310.4 million from $490.1 million, the SEC filing said. Palm smartphones’ average sales price fell to $463 from $468 a year earlier, while handheld PC prices averaged $173, down from $176, it said. Palm sold 2.7 million smartphones, up from two million a year earlier. Sales of handheld PCs fell to 1.8 million units from 2.6 million.