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 Posted: Thu Nov 30, 2006 3:05 pm Post subject: Palm Decrease Revenue OUtlook |
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Palm lowered its financial guidance for its second fiscal quarter, which ends Dec. 1, due to delays in shipping its Treo 750 in the US.
The company now expects revenues to fall between $390 million and $395 million, down significantly from previous guidance of between $430 million and $450 million. Earnings per diluted share are expected to be 10 cents to 11 cents, compared with earlier guidance of 15 cents to 18 cents.
Palm said it now expects the Treo 750 to ship in the United States during its fiscal third quarter. Palm did not name the carrier it expects to sell the device.
Investors reacted angrily, sending Palm’s shares down more than 8 percent to $14.12 per share.
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