Monday, June 3, 2002

Fourth-quarter revenue announced

Palm, Inc. announced that fourth-quarter revenue will be approximately $230 million, compared with the previously expected $290 million to $300 million. In addition, the company said it will not meet its breakeven profitability expectations for the current quarter, which ends May 31, 2002. Despite a downturn in demand for handheld computers along with other technology products, Palm still expects to report operational performance in line with prior guidance. In addition, the share for Palm branded and Palm Powered handhelds in U.S. retail both grew over the last three months, and according to first-quarter 2002 worldwide data, both Palm branded device and Palm OS share are holding steady.

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