Palm reported preliminary results for its second quarter of fiscal year 2009, which ended Nov. 28, 2008.
The company announced that it expects to record revenues for Q2 fiscal year 2009 in the range of $190 million to $195 million. The revenue decline vs. the company's Q1 fiscal year 2009 and Q2 fiscal year 2008 is a result of reduced demand for maturing smartphone and handheld products. The company stated that while it had expected these factors to pressure revenue in its November 2008 and February 2009 quarters, the difficult economic environment has greatly intensified the negative impact on product sales.
"We are seeing unprecedented dynamics in the global markets as economic uncertainty hampers demand for consumer products," said Ed Colligan, Palm's president and chief executive officer. "In order to ensure Palm's long-term success during these uncertain times, we're taking several steps to significantly reduce our cost structure. These measures will help us navigate this difficult period while launching our next-generation products as planned."
Palm has got to start making killer products or they will go down. The Centro is inexpensive and a good seller, but compared to the BlackBerrys and iPhones of the world even Palm's top Treo cannot compare. While virtually every other smartphone maker is building larger screens, Palm's screens are shrinking. Our view is Palm should make the Treo a little more like the BlackBerry Curve. Give us more screen space that we don't need a magnifying glass to see.
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