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Unlike Palm OS developer PalmSource, handheld and smartphone maker PalmOne beat expectations with the announcement today of its financial results for its last fiscal quarter.

The company earned a net income of $17.7 million or 35 cents per share. Up from $13.3 million in net income a year earlier and 4 cents per share better than what analysts predicated.

Revenue grew by 26 percent over the same period to $335.8 million compared to $332 million predicted by the financial industry. That's palmOne's eighth consecutive quarter of year-over-year growth.

It expects to earn between $330 million and $335 million for the current quarter, with profits of 24 cents to 29 cents per share. Analysts expect more out of palmOne, estimating it'll earn 31 cents per share this quarter.

PalmOne's shares grew 5.6 percent ($1.65 per share) to $31.40 during NASDAQ trading this morning.

Find out about Palm platform developer PalmSource's shaker results, a new licensee, and job cuts by clicking here.

Treo Treo Treo
PalmOne attributes much of its success for its most recent fiscal quarter to its Treo line of smartphones.

The company's President & CEO Ed Colligan exclaimed, "Our carrier and channel partners reported very strong sell-through on Treo smartphones for the quarter -- a 250 percent increase over the comparable quarter last year and 57 percent more than in the third quarter of fiscal year 2005."

Treos are by far the most popular smartphones in the United States. The smartphone's impact worldwide is minimal compared to other devices though.

New Old Name
One month ago palmOne annonced it would buy PalmSource's 55 percent stake in the Palm Trademark Holding Company. As a result, it would own exclusive rights to the name Palm, Inc. and change back to that moniker.

Although officials supposed the name change would occur later this year, palmOne announced this morning the company would do it sooner than expected, on July 14.

PalmOne's stock symbol will go from PLMO to PALM.

According to Marlene Somsak, a palmOne spokeswoman, full control of the Palm name has been the company's plans since PalmSource first split from the company in October 2003 and took with it a majority stake in the trademark.

PalmSource Chief Competitive Officer Michael Mace said, "Trying to share the brand between two companies didn't work, and now we've fixed it. The name was more closely associated with hardware in most customers' minds, so it made sense for palmOne to have the name."