Palm Inc. expects to post a loss in second quarter

Palm Inc. expects to post a loss in second quarter

Palm Inc. has stated that they are likely to post a loss in the second quarter of their financial year.

This loss could be worse than expected as the company is suffering from delays of planned products.

The company added that they expect the sales to tally between $345 million and $350 million.

The losses are likely to be in the range of 22 cents to 24 cents per share. They had originally predicted losses in the range of 1 cent to 3 cents per share.

Palm President and CEO Ed Colligan said in a statement: “We are disappointed that we did not get a key product certified for delivery in the quarter, but we are focused on realizing the long-term benefits and opportunities that inspired our transaction with Elevation Partners.”