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SAN JOSE, Calif. (AP) - Palm Inc. on Tuesday said profit surged with a tax-related gain in its fiscal second quarter, as the handheld maker added new carriers and increased shipments of its Web-enabled Treo smartphones. Its shares surged in late trading.
Palm earned $260.9 million, or $5.02 per share, in the three months ended Dec. 2, up from $24.7 million, or 48 cents per share, a year ago.
Excluding certain items — the largest of which was a $224.2 million tax benefit — Palm said it would have earned $24.4 million in the latest quarter, or 47 cents per share. That's lower than 2004 adjusted earnings of 53 cents per share.
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