Treo delay dents Palm earnings
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Company says results will fall short of estimates because it won't be able to ship its Treo 750 on time in the U.S.
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Plus: GameStop raises earnings estimates...RIM profits up on expanded customer base...Palm's losses continue.
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Handheld computer maker Palm Inc.   on Thursday posted lower first quarter net income as  costs rose and the company began expensing stock options, but  the results topped Wall Street forecasts.
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Texas Instruments Inc. TXN.N,  the world's largest maker of chips for cell phones, on Tuesday  reported a smaller profit in the fourth quarter but its  earnings topped a forecast it gave in December.
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Palm Inc., whose Treo smart phone is facing increasing competition from Apple Inc., Nokia Corp. and other offerings, said Wednesday it may see a small loss or break even in its fiscal first quarter.
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Palm warned that its upcoming earnings report could be weaker than expected.
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A delay in the release of its newest Treo device prompted the first drop in sales at Palm Inc. in more than three years.
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Palm Inc., the struggling hand-held device company that makes the Treo, has reached a deal to sell a quarter of the company to a private equity firm for about $325 million.
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Handheld computer maker Palm Inc.   PALM.O on Thursday posted lower first quarter net income as   costs rose and the company began expensing stock options, but   the results topped Wall Street forecasts.
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Handheld computer and phone maker Palm  Inc.  is to unveil the latest version of its Treo smart  phone next month as it attempts to revive sales hit by tough  competition and problems with previous models.
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Apple and Motorola earnings disappoint the Street fueling fears that consumers will continue to decrease spending.
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(InfoWorld) - Palm Inc. has lowered its financial forecast for the current quarter because of delays in bringing its latest Treo smartphone to market. Palm on Monday lowered its revenue forecast for its fiscal 2007 second quarter, which ends Dec. 1, to a range of US$390 million to $395 million from an estimate made Sept. 21 of $430 million to $450 million. It also pared its earnings forecast to a range of $0.10 to $0.11 per share from the earlier estimate of $0.15 to $0.18. Not counting special items, the estimate has been trimmed to $0.15 to $0.16 a share, from an earlier $0.20 to $0.23. Although its line of smartphones is selling well and the new Treo 750v introduced in Europe is popular, Palm hasn't been able to get the Treo 750 introduced in the U.S. as planned, according to the company. "Our Q2 FY07 revenue will be constrained by a delay in certification of a key product. We now expect to start shipping the Treo 750 for the U.S. market early in Q3 FY07," Palm President and Chief Executive Officer Ed Colligan said in a prepared statement. Palm (NASDAQ:PALM) waited until the market closed Monday to announce the news. After closing for the day at $15.37, about three hours later its stock had fallen by $0.64 in after-hours trading.
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De-Vodafoned across Europe Palm will next month make available an unlocked version of its Treo 500 smartphone following the end of carrier's Vodafone's time offering the handset on an exclusive basis.â¦
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(InfoWorld) - AfterÂ canceling its controversial FoleoÂ product and continuing to struggle with a shift away from the personal digital assistant market, Palm warned on Wednesday that its upcoming earnings report could be weaker than expected. For the quarter ending Aug. 31, Palm will lose $0.01 per share or break even, the company said. Earlier, the company had said it expected a loss of $0.01 or a gain of $0.01 in the period. That compares with a gain of $0.35 per share in the same quarter last year. Palm also narrowed its revenue forecast to between $359 million and $361 million, instead of the previously expected $355 million to $365 million. Palm will release its quarterly earnings report on Oct. 1. The company is facing challenges as it changes its business from one focused on PDAs to one that specializes in smart phones. Earlier this month, Palm announced it wouldn't ship the Foleo, a companion product to itsÂ Treo smart phone, as planned. When the device was announced, analysts said it would be too expensive and wouldn't offer valuable features. Palm said it decided to focus instead on its own software platform that is due out in 2008 or 2009.
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Palm Inc , the maker of  Treo cell phones, forecast lower-than-expected revenue amid  tough competition from Research in Motion Ltd's   Blackberry and Apple Inc's  iPhone, sending its shares  tumbling 12 percent on Tuesday.
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Record sales, but numbers still down Palm is still losing money, despite the Centro selling in record numbers (for Palm). The company lost $9.6m in the three months to 30 November, on revenues which are down 11 per cent on last year to $349 million.â¦
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PalmOne Inc.  on Monday swung to a quarterly profit from a year-earlier loss on a 62 percent jump in revenue, spurred by solid sales of its Treo 600 mobile phone and other handheld digital devices.