Poor Second Quarter for Palm

palm3.jpgThe smartphone manufacturer Palm lowered its second quarter numbers and said it has higher than expected losses. The company is blaming the poor performance on the delay of a product release.

Palm had predicted sales for the quarter to be between $370 and $380 million but only posted sales around $350 million. Market analysts had expected sales to be around $376 million.

In October Palm figured it would lose 1 to 3 cents a share but losses are expected to be between 22 to 24 cents a share, now that all the numbers have been crunched. A year ago, Palm earned 12 cents a share on sales of $393 million.

A full report on Palm’s second quarter numbers will be released on December 18.

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