Palm, Inc. reported revenues of $265 million for the second quarter of fiscal year 2003, ended November 29, 2002, down 9 percent from the $291 million reported during the comparable quarter a year ago, and up 54 percent from the first quarter of fiscal 2003. Pro forma net income in the second quarter–which excludes the effects of amortization of intangible assets, separation costs, and restructuring charges–totaled $5.7 million, or $0.19 per share. This compares to a pro forma net loss in the second quarter of fiscal 2002 of $36.6 million, or $1.29 per share, which excluded the effects of the reduction in special excess inventory costs, amortization of intangible assets, and restructuring charges. Pro forma net loss in the first quarter of fiscal year 2003 was $36.4 million, or $1.26 per share, which excluded the effects of the change in the valuation allowance for deferred tax assets, amortization of intangible assets, separation costs, and restructuring charges. All earnings-per-share figures have been adjusted for the 1-for-20 reverse stock split effective October 15, 2002.