Palm, Inc. announced that its turnaround strategy, begun six months ago, and its move to create two strong businesses continue to make progress. The company updated its Q2 financial outlook and announced other actions to bring cost structure and resources into alignment with the strategic needs of its Solutions and Platform businesses. The company said it expects to report revenue for its fiscal second quarter, ending November 30, 2001, of between $250 million and $280 million, which is toward the upper end of its prior guidance. For the same period, Palm expects to meet consensus analyst estimates, with a pro forma loss of approximately 7 cents per share. Pro forma results exclude the effects of amortization of goodwill and intangibles, restructuring charges and special excess inventory related charges/benefits. The company expects to report final results for the second quarter on December 19, 2001, after the market closes.