Palm first-quarter net loss widens

Fri Sep 19, 2008 6:27am BST
 
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By David Lawsky

SAN FRANCISCO, Sept 18 (Reuters) - Palm Inc (PALM.O), the maker of smart phones, said on Thursday its earnings for the second quarter ending in November will decline, and its shares fell as much as 7 percent in after-hours trading.

The Sunnyvale, California-based company once known for handheld organizers but now focused on selling so-called smart phones provided no specific figures for the forecast. Analysts said the projection weighed down its stock.

"We're not going to get into specific numbers ... we have decided to not give specific numerical guidance," said Ed Colligan, Palm's chief executive and president, during a conference call with analysts.

Revenue rose 1.6 percent to $366.9 million.

One of the analysts said that he and others had been looking for increased growth, fueled by demand for Palm's new, entry level Centro phone, which sells for less than $100.   Continued...

 

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