Palm updates financial guidance in wake of HP announcement 12

by Dieter Bohn Wed, 28 Apr 2010 8:45 pm EDT

This thing is happening, folks. Palm has filed a couple of documents with the SEC in preparation for this deal with HP. The documents update Palm's guidance for the 4th quarter of fiscal year 2010 and if HP weren't buying Palm, we expect that it would have been curtains. Ok, actually, the numbers perhaps look so grim because Palm saw the buyout coming and so wasn't shy about spending cash.

At any rate, Palm projects that their revenue for the 4th quarter will clock in between $90 and $100 million. They also state that "Revenues for the fourth fiscal quarter are being impacted by slow sales." Cash on hand at the end of the quarter should be between $350 and $400 million. In all, HP is acquiring a company near the end of its rope but fortunately not bogged down with loads of debt.

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12 Comments

Posted by onlinespending on Wed, 28 Apr 2010 5:36 pm EDT

1st

Posted by mperkinsky on Wed, 28 Apr 2010 5:39 pm EDT

I'm not sure if Palm as a brand will survive this but I think that webOS may just become the "brand" in a sense. HP webOS smartphones and HP webOS tablet devices.

That's my two cents. Either way...still a huge win.

Posted by jmason on Wed, 28 Apr 2010 5:48 pm EDT

Someone contact DataViz, seems like the environment at Palm right now seems pretty damn good . . . . .

Posted by mottyman on Wed, 28 Apr 2010 6:06 pm EDT

$350 an $400 is that million?

Posted by mottyman on Wed, 28 Apr 2010 6:07 pm EDT

$350 an $400 is that million?

Posted by mottyman on Wed, 28 Apr 2010 6:09 pm EDT

$350 an $400 is that million?

Posted by drizek on Wed, 28 Apr 2010 6:10 pm EDT

No, just $350. Rubenstein sold the shirt on his back on Craigslist and thats what he got for it.

Posted by mottyman on Wed, 28 Apr 2010 6:13 pm EDT

nice. he should have put it on ebay.

Posted by Depadilla on Wed, 28 Apr 2010 6:13 pm EDT

yes someone contact DataViz & tell them to go to H.... Or HP?
We don't need them now.. Hp can create an office suite quickly...

Posted by rogeratm on Wed, 28 Apr 2010 6:22 pm EDT

Wow, this is outstanding news! I believe this transaction will be perfect for both Palm and HP. Mark Hurd at HP is a very good CEO and knows what he is doing. There is a master plan in the works between Palm and HP that will be great for all of us Palm owners and the IP industry as a whole.

I fully expect to see this become much bigger with perhaps an HP/Palm store with Apps, Music, Video, Accessories, and even new products such as a small tablet.

I'll be canceling my order for an iPAD 3G! Very happy this happened now rather than next week!