Palm is reporting a net income of 12 cents/share for the 2nd quarter of 2003. This compares with a loss of 89 cents/share for the same period last year. This is good news for Palm, especiaially with anaylsts expecting a loss around 15 cents/share.

Palm is reporting that the net income even though they have seen a decline in their sales. Sales for this quarter were down roughly 9% from last year. They have managed to post a net income despite this decline so the reduction in staff and other cost-cutting measures are working.

In other news, PalmSource is reporting that more than 20 million Palm OS devices have been sold since their introduction in 1996. It is believed that the newly introduced Palm Zire and Palm Tungsten T have spurred sales and helped Palm to reach that plateau.