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Palm announces sales results Q3- cash position needs strengthening

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palm-prePalm (s palm) addressed their Q3 sales results today and it looks like they can’t get the Pre released fast enough.  Their falling financial position has led many to believe that the Palm Pre is a make or break proposition for the smartphone maker and these numbers would bolster that argument.

Wall Street was expecting quarterly sales of $155 million but Palm said today sales will only be $85 to $90 million due to later-than-expected deliveries of the Treo Pro.  Palm will be announcing full financials later this week and it’s likely their loss will be greater than Wall Street expected.  It is beginning to sound more and more that Palm is “all in” with the Pre.

CEO Ed Colligan had at least some good news to share today:

“The much-anticipated launch of the Palm(R) Pre(TM) remains on track for the first half of calendar year 2009, but as expected we’ve got a difficult transition period to work through,” said Palm President and Chief Executive Officer Ed Colligan. “Despite the challenging market environment, the extraordinary response to the Palm Pre and the new Palm webOS(TM) reaffirms our confidence in our long-term prospects and our ability to reestablish Palm as the leading innovator in the growing smartphone market.”

Let’s hope Palm can get that Pre out the door soonest and that it is the savior the company desperately needs.

(via ZDNet)