Palm yesterday announced its fiscal first quarter 2006 financial results. During the quarter, Palm sold 470,000 Treo smartphones. That’s an increase of 160% over the same period last year.

Other data for the quarter:

• Revenue was $342.2 million, up 25% verus a year ago
• Net income was $18.2 million, down slightly from a year ago

Palm is expected to officially announce the Treo 700 series soon. Info on the Treo 700w leaked yesterday.