Palm Says Q2 Revenues Will Disappoint; Is Cutting Quarterly Expenses By $20 Million

Palm (NSDQ: PALM) reported preliminary financial results for its second quarter ended Nov. 28 today, saying its revenues fell compared to the previous quarter and that it is trimming staff and consolidating offices in order to save up to $20 million a quarter. The company, which is well-known for its Treo smartphones, expects Q2 revenues in the range of $190 million to $195 million. That is significantly less than the $366.9 million reported in the first quarter, and falls way below analyst expectations of $330.8 million. The company blames falling revenues on the maturing smartphone market and the difficult economy. Ed Colligan, Palm

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