Comments on: Palm Reports Q2 FY08 Results

Palm Inc today reported that total revenue in the second quarter of fiscal year 2008, ended Nov. 30, was $349.6 million. Smartphone sell-through for the quarter was 686,000 units, up 11 percent year over year. Smartphone revenue was $282.4 million.

Palm took a loss for the quarter of $9.6 million (or 9 cents a share), roughly in line with the warning issued earlier this month.

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Colligan: RESIGN!

mikecane @ 12/18/2007 4:31:35 PM #

>>>"We are transforming Palm to exploit the market opportunity and instilling operational rigor throughout the organization. We've taken actions to align our expenses to the current operating environment and are focusing on core initiatives that will have the greatest impact on achieving our long-term success," said Ed Colligan, Palm president and chief executive officer.

Can this guy put together a sentence that's NOT all weaselly and non-sensical?

I mean, WTF does any of that MEAN?

>>>The company will suspend specific financial guidance in future quarters, but will continue to provide general business guidance and comments on industry trends.

We're toast. But we think you're dumb enough not to notice unless we open our yaps and spill the beans.

Colligan: RESIGN!

RE: Colligan: RESIGN!

wildmantrader @ 12/18/2007 4:32:47 PM #

I second that motion.

RE: Colligan: RESIGN!

madmaxmedia @ 12/18/2007 5:57:18 PM #

LOL, I think Dilbert's boss joined Palm's board too.

RE: Colligan: RESIGN!

Dr Opinion @ 12/18/2007 8:54:49 PM #

Translation follows for the non-businessly gifted:

"We are transforming Palm to exploit the market opportunity..." == Palm was not organized to exploit the market opportunity identified by our new owners. But they're fixing that.

"...and instilling operational rigor throughout the organization..." == Palm lacked the operational rigor demanded by our new owners. But they're changing that.

"...We've taken actions to align our expenses to the current operating environment..." == We were spending loot on inappropriate things, given that we're losing money. But our new owners have fixed that, and right sharpish. :D

"...and [we] are focusing on core initiatives that will have the greatest impact on achieving our long-term success..." == We've let the smartphone angle slip a little, but our new owners are fixing that.

See? Easy. :)

------
"People who like M$ products tend to be insecure crowd-following newbies lacking in experience and imagination."

More Palm Devices?

theog @ 12/18/2007 5:33:36 PM #

Wow... more palm OS devices? I don't think so. I hope they can at least produce the palm 800w before palm folds. lol

Anyone actually believe we will see a "new" palm OS in '08? I'm thinking if they make it we will see something in Feb - Jun '09.

Vote for John Kerry... best man for the job.

Parsing Mr. Colligan

hgoldner @ 12/18/2007 5:39:15 PM #

I seriously hope that the 'operational rigor' he hopes to instill isn't rigor mortis!

Harold

What a disaster

SeldomVisitor @ 12/19/2007 8:32:54 AM #

Some may have noted that, on occasion, I'm somewhat of a PALM-pessimist with some of my posts.

But that earnings call last night set even ME back on my heels.

I totally was expecting, for example, the "guidance" (how the "next" quarter was going to do financially) to be superlative since that Verizon 755p release was pushed into it, thus incrementing its numbers by a significant amount.

Yet PALM said it's going to be a disaster, too!

Can you imagine how bad it would have been if it DIDN'T have the delayed 755p revenues?

And =I'm= trying to imagine WHY it is predicted to be SO bad!

I think perhaps sell-through - or even worse, carrier interest in PALM - fell off the cliff recently for PALM's nonCentro devices (because I can't think of any OTHER good reason for predicted dramatically bad results, can you?).

RE: What a disaster

mikecane @ 12/19/2007 10:08:48 AM #

It's easy to understand why next quarter will be a disaster too.

This is the FINAL quarter Palm will sell PDAs.

When the current pipeline empties, hasta la PDA. Cue the Fat Lady.

So they will be losing 19% of their income.

Dumb mofos.

Colligan, now more than ever: **RESIGN**!!!

RE: What a disaster

SeldomVisitor @ 12/19/2007 10:49:14 AM #

Yes, that applies to NEXT quarter and could explain some problems for that one - however, my comments were about the CURRENT quarter - the one to be reported next time - that inexplicably is going to be a disaster, too.