Palm Reports Preliminary Q1 FY07 Results
Palm today reported preliminary financial results for the first quarter of fiscal year 2007, ended Sept. 1. Full results will be reported Sept. 21.
Based on preliminary financial data, Palm expects revenue to be in the range of $354 million to $356 million for the first quarter of fiscal year 2007. This compares with earlier guidance of $380 million to $385 million provided June 29, when Palm reported its fourth quarter fiscal year 2006 results. The revenue shortfall was primarily due to lower Treo volumes in carrier retail channels.
Earnings per diluted share are expected to be $0.13 to $0.14 on a GAAP basis and $0.18 to $0.19 on a non-GAAP basis, in line with the company's previous guidance.
"We will soon address the market dynamics responsible for our first quarter revenue shortfall with two major product launches, one that improves our pricing position and both which extend our carrier relationships to global markets," said Ed Colligan, Palm president and chief executive officer. "Overall smartphone sell-through was up quarter over quarter, and our balance sheet is in excellent shape."
Full results for the company's first quarter of fiscal year 2007 will be announced on Thursday, Sept. 21, at the close of the market at 1:00 p.m. Pacific Time.
Article Comments(37 comments)
- RE: Don't we have this already? -Tuckermaclain
- RE: Palm brand will return in 2018, with devices built by TCL -richf
- RE: Palm brand will return in 2018, with devices built by TCL -dmitrygr
- Palm phone on HDblog -palmato
- Palm PVG100 -hgoldner
- RE: Like Deja Vu -PacManFoo
- Like Deja Vu -T_W
- RE: Don't we have this already? -richf