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Palm on Tuesday posted the preliminary results for its third quarter of fiscal year 2009, ended February 27, which show an obvious decline in revenue compared to the second quarter of fiscal year 2009. The company said it expects revenue to continue declining in the fourth fiscal quarter.
According to Palm president and CEO Ed Colligan, the company is going through a difficult transition period. Furthermore, the results of this fiscal quarter have been driven by less-than-expected shipments of the Treo Pro in the United States, as well as by reduced demand in its smartphone line.
“Despite the challenging market environment, the extraordinary response to the Palm Pre and the new Palm webOS reaffirms our confidence in our long-term prospects and our ability to reestablish Palm as the leading innovator in the growing smartphone market.”
The fact the Palm is counting so much on the success of its Palm webOS and Palm Pre does not come as a surprise, since the two are considered the only two elements that could still keep Palm in the competition today.
The company announced that is has enough cash, cash equivalents and short-term investments to meet the working capital needs for the current operating plan, but it also expects the Palm Pre launch to work its magic, especially considering the tough economic times.
Palm said it will announce the complete third quarter results of fiscal year 2009 on Thursday, March 19, 2009, during a conference call hosted by Palm president and CEO Ed Colligan.
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