Palm announces larger than expected Q3 losses

Remember all of that good news surrounding the success of the Palm Centro? It looks like we may have jumped the gun with the congratulatory statements. Palm has just announced an amendment to their Q3 earnings report for the period ending on February 28th, and things are not looking good for the embattled company. Their initial estimates indicated a $31.5 million loss, which isn’t great. Unfortunately the bad news gets worse, as a newly revised Q3 statement indicates losses totaling roughly $57 million. Oh dear. These sinking numbers should be viewed in contrast with the same period last year, which actually saw a profit of $11.8 million. Palm is attributing much of the loss increase to the falling American securities and credit market. Another casualty of a rapidly sinking economy, and unquestionably bad news for Palm. Then again, perhaps their fortunes could be reversed by releasing a small mobile companion notebook…oh wait.

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