Palm's preliminary quarter-end results show drooping revenues, bleak outlook
byDarren Murph||December 2nd 2008 at 8:54amDecember 2nd 2008 8:54 am
Remember when we used to write about Palm in order to talk about its devices and / or operating system(s)? Man, those were the days. Now, it just seems like one sadness-filled report after another, and just days after hearing that it would be cutting an undisclosed amount of employees in order to trim operating expenses, in comes even more doom and gloom courtesy of its preliminary Q2 (fiscal year 2009) results. The company is expecting to record revenues ranging between $190 million to $195 million, far short of the $331 million Wall Street had been counting on. The shortfall was blamed on "a difficult economic environment [which had] greatly intensified the negative impact on product sales." Of course, the visionary Ed Colligan (CEO) still maintains that by reducing its cost structure it can "launch next-generation products as planned," but seriously, why should we believe that line now? Time to put up or shut up, Palm.