The smartphone manufacturer Palm lowered its second quarter numbers and said it has higher than expected losses. The company is blaming the poor performance on the delay of a product release.
Palm had predicted sales for the quarter to be between $370 and $380 million but only posted sales around $350 million. Market analysts had expected sales to be around $376 million.
In October Palm figured it would lose 1 to 3 cents a share but losses are expected to be between 22 to 24 cents a share, now that all the numbers have been crunched. A year ago, Palm earned 12 cents a share on sales of $393 million.
A full report on Palm’s second quarter numbers will be released on December 18.
