Seeking Alpha
Profile| Send Message|
( followers)  
Palm (PALM) this afternoon sharply reduced its guidance for its fiscal second quarter ending December 1. The company now says revenue for the quarter will be between $390 million and $395 million; it had previously forecast $430 million to $450 million. The company sees profits of 10-11 cents a share on a GAAP basis and 15-16 cents on a non-GAAP basis; previously, it forecast 15-18 cents on a GAAP basis, and 20-23 cents non-GAAP.

The company said the shortfall was primarily due to a delay in “completing the certification process” for the Treo 750 , which was supposed to start shipping in the U.S. this quarter, but instead will be delayed until next quarter. The company said the Treo 750V is “doing quite well” in Europe, and that it expects international revenue in the current quarter to be “strong.”

Palm, which fell 55 cents to $15.37 in the regular session, is down $1.19, to $14.18, in after hours trading.

Source: Palm Warns - Stock Down 4% After Hours