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Palm Misses Sales Target
Mar 4, 2003
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Palm Inc., a maker of handheld computers, said third-quarter revenue missed estimates because of slumping demand for its
most expensive devices. Palm shares fell as much as 13 percent.

Sales in the period ended Feb. 28 were U.S. $205 million to $210 million, less than the $230-$250 million forecast Dec. 18, Palm said. Palm, which dismissed 19 percent of its staff in the past 3 months, will have as much as $45 million in costs for the job cuts and other cost-reduction moves.(Bloomberg News)

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