Palm updates financial guidance in wake of HP announcement | webOS Nation
 
 

Palm updates financial guidance in wake of HP announcement

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

HP + Palm 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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