http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/ Engadget Comments for Palm announces first quarter results: $164.5m net loss, 823k phones sold http://www.engadget.com/media/feedlogo.gif http://www.engadget.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 4:54PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 4:54PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
http://sanjose.bizjournals.com/sanjose/stories/2009/09/14/daily86.html?ana=yfcpc


]]>Sep 17th 2009 5:27PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:55PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
O the iron....

]]>Sep 17th 2009 7:07PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 7:08PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/"To facilitate comparisons to Palm's historical results, Palm has included non-GAAP adjusted measures, which exclude the impact of subscription accounting... The company believes this information will help investors better evaluate its current period performance and trends in its business."

Oh yes, I agree. Recording liabilities as revenue is helpful to investors. Oh wait, no it's not.]]>Sep 17th 2009 7:18PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 4:56PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 4:57PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 4:57PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 8:01PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Gross Profit is NOT $2.8m, it's close to $160m. Net Income, however, is close to $-732m. Revenues were $736m.

It's hard to get past the fact that they have a $264m operating loss that persists from last year.

confirm/deny]]>Sep 17th 2009 9:22PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 9:27PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/the 2.8 million number they are talking about is gross profit.
Unfortunately, I think Engadget missed the parentheses around the number, meaning its a LOSS of 2.8 million, actually -$2,784,000. If you check the charts, its a bit clearer.]]>Sep 17th 2009 9:37PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
So either they're really getting hit hard by a slowing market or they're masking their modest gains while they prepare for a huge success in the near future.]]>Sep 17th 2009 9:47PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
how much have they spent advertising on your site? i know it was $75k just to talk about the pre on jimmy fallan.

please try to be honest.]]>Sep 17th 2009 5:02PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:10PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:12PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
You have a point. Palm didn't even disclose the Pre sales number. In the investment world, that translates to
bad sales number. No other way to describe it. Palm is selling another 16 million shares to raise capital to
stay alive for another 6 months. Time will tell how long Palm will live.


]]>Sep 17th 2009 5:16PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Apple was just an easy comparison because they do the same "use whatever numbers seem best" for their reports.

Apps sold (include updates?)
here's a good one - App store customers (ie. lets include all those ipod touches in our iphone presentations!)
iPhones sold (same 200,000 people buying every release? returns?)
iPhone Marketshare? (oh yeah - the rest of the world isnt a market.... lets just use the US numbers)
OS comparisons - oh yeah - we only use US numbers - other countries dont count here either....

Marketing and presentation mean alot - you wont find a single company that shows off it's numbers without some sort of 'spin' to deem it positive
]]>Sep 17th 2009 5:26PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:36PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
All in all, it seems rosy to me.

Sequioa, this bit about not disclosing sales numbers, it looks like 820k phones with the majority being pre sales would make it at absolute least 410k (I am assuming more). Analyst estimates ranged from 300-500k pre units sold. In the real investment world this translates to sales inline with analyst estimates, or better. ]]>Sep 17th 2009 5:39PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Did YOU go to business school? Beating estimates < > Rosy... A loss is a loss... a NINTH STRAIGHT LOSS. What does business school say about that?]]>Sep 18th 2009 3:01PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:05PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:05PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 18th 2009 2:49AMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
/Rubenstein is a dumbass...]]>Sep 18th 2009 5:09PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
Sounds like he had a good teacher.]]>Sep 17th 2009 5:11PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:18PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:58PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/those who can't. teach.]]>Sep 17th 2009 6:19PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
I'm not sure there's that big of a distinction. Palm certainly didn't write all the code in WebOS. It's based upon the Linux kernel, webkit, Javascript and a bunch of other technologies they had little to no part in developing. Very much like the software running on the Cliq.]]>Sep 17th 2009 7:24PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
"you have to control the entire experience -- you have to own the OS and the services around it."

I don't know if we have the full context of it, but that statement scares me a little. ]]>Sep 17th 2009 5:16PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/the top half feels kinda flimsy and it does sway a little to the left or right on opening or closing. is that normal??]]>Sep 17th 2009 6:46PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
BTW, maybe THAT's why we didn't see Steve Jobs for those months, Rubinstein and Jobs are really the SAME GUY!!!]]>Sep 17th 2009 8:06PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 18th 2009 9:24AMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
http://news.cnet.com/8301-30686_3-10356044-266.html

Sales of the Pre helped boost Palm's smartphone sales in the fiscal first quarter of 2010 by about 134 percent compared to the previous quarter, but the company still reported its eighth consecutive quarter of loss and sales dipped over 80 percent.

The Palm Pre available exclusively through Sprint Nextel, is gaining traction. The company sold 823,000 smartphones in the fourth quarter, of which many are believed to be the Pre.

But even though sales of the Palm Pre were strong, Palm still ended up losing $164.5 million, or $1.17 per share in its fiscal first quarter, which ended Aug. 31. A year ago, the company reported it lost $41.9 million. Sales fell to $68 million, missing analysts' forecasts between $291 million and $297 million.

Palm has struggled to regain footing after losing market share over the last couple of years to companies like Apple with its iPhone and Research In Motion with BlackBerry devices. The Pre has been as the company's last hope at getting back in the game.]]>Sep 17th 2009 5:23PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:24PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/As they should since nobody in their right mind should be buying a Treo 755p or Centro now unless they're serious masochists. ]]>Sep 17th 2009 5:56PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:24PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:25PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:27PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/
Sounds like another company I know of...]]>Sep 17th 2009 5:26PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:27PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:30PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:41PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:56PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:57PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 5:57PMhttp://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/Sep 17th 2009 6:00PM