“Palm Inc. said Thursday its loss for the fiscal third quarter widened significantly from a year earlier on plunging sales,” The Associated Press reports.
“The company said retailers sold 482,000 Palm units during the most recent quarter, down 42 percent year-over-year,” AP reports.
“Palm reported a net loss of $98 million, or 89 cents per share, compared with a loss of $57 million, or 53 cents per share, a year earlier,” AP reports. “Sales tumbled 71 percent to $90.6 million from $312.1 million in the year-earlier quarter. Analysts were looking for $105 million.”
“‘We’re proceeding through a challenging transitional period,’ Palm Chief Executive Ed Colligan said in a statement, adding, ‘Our current results shouldn’t overshadow the tremendous progress we’ve made against our strategic goals.'”
Full article here.
Sinead Carew reports for Reuters that Palm “shares fell 4.7 percent after the report as some investors may have hoped for a specific launch date for Pre.”
“The Pre is seen as Palm’s best hope to fight rivals such as Apple Inc. and Research In Motion, which have hurt Palm’s smartphone sales in recent years,” Carew reports. “It said it is working hard to have Pre ready for a launch before the middle of the year at its exclusive U.S. carrier partner Sprint Nextel.”
“Colligan also told analysts that he already uses Pre as his personal device every day and that it works well but just needs some polishing before it can go on sale. The company also said it has enough money to support the phone’s launch,” Carew reports. “Colligan told analysts that the company has a whole set of future products planned for the system.”
Carew reports, “Palm’s shares fell about 4.7 percent to $7.35 in late trade after closing down another 4.7 percent in the regular Nasdaq session on Thursday.”
Full article here.
MacDailyNews Take: Ed, it’s not at all difficult: You unnecessarily froze what was left of your rapidly-shrinking market, dumbass, and you should have been fired years ago.
[Thanks to MacDailyNews Reader “Joe Architect” for the heads up.]
