Menu
Palm warns of profit drop

Palm warns of profit drop

Palm warned that its first-quarter results could be weaker than expected.

After canceling its controversial Foleo product and continuing to struggle with a shift away from the personal digital assistant market, Palm warned on Wednesday that its upcoming earnings report could be weaker than expected.

For the quarter ending August 31, Palm will lose US$0.01 per share or break even, the company said. Earlier, the company had said it expected a loss of US$0.01 or a gain of US$0.01 in the period. That compares with a gain of US$0.35 per share in the same quarter last year.

Palm also narrowed its revenue forecast to between US$359 million and US$361 million, instead of the previously expected US$355 million to US$365 million.

Palm will release its quarterly earnings report on October 1.

The company is facing challenges as it changes its business from one focused on PDAs to one that specializes in smart phones. Earlier this month, Palm announced it wouldn't ship the Foleo, a companion product to its Treo smart phone, as planned. When the device was announced, analysts said it would be too expensive and wouldn't offer valuable features. Palm said it decided to focus instead on its own software platform that is due out in 2008 or 2009.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments