Palm posts net loss of $95 million for Q3, reaffirms that Pre is on schedule
By Laura June 
posted Mar 20th 2009 12:44PM
posted Mar 20th 2009 12:44PM
Palm's third quarter earnings report for 2009 has dropped, and it's looking pretty rough for the old boys. The company posted a net loss of $95 million dollars in the quarter, and sold 482,000 units where it sold 833,000 in the same quarter last year. Palm's total earnings for the quarter fell 71 percent over last year, from $312 million to just $90.6 million. Palm stock fell a net 53 cents quarter over quarter, though it's made some recent significant gains. CEO Ed Colligan was quick to point out, however, that its much-touted and anxiously awaited Pre (with the new webOS) is on target for its release date in the "second quarter." The heat is officially on.
I'm no financial wizard, but can you post a loss for a quarter that has not happened yet?
Palm's fiscal year is not lined up with the calendar year.
http://www.thefreedictionary.com/fiscal+year
Thats what I was wondering?
good..maybe that will start making phones that people really want.
well here's hoping they don't bleed out before they release that Pre goodness onto the world.
the pre isnt goodness, its an ugly ass paperweight. LONG LIVE THE BLACKBERRY
That works out to a stinky $186 revenue per unit, less after you strip out accessory revenue. Their pricing power with the cell companies appears to be el zippo, along with their ability to charge $$ at retail.
They'll surely get a bump in orders with the Pre but I am not sure if they can ever turn a profit from here. Very expensive launch coming with all the costs upfront.
Who wants to be stuck with a Pre if the company bites it in 12 months?? You can kiss those updates bye bye.
The only two cell companies with pricing power now are Apple and Blackberry. I take mine with buttons thank-you, so nice!