Palm, the Californian based provider of handheld computing devices, has revealed disappointing fourth quarter results which fall short of expectations.
The company has stated that its sales totalled $230 million, meaning the company had failed to meet its breakeven target. The disappointing figures are blamed on the downturn in the PDA industry. The company had anticipated that it would reach its breakeven figure and that sales would be in the region of $290 million to $300 million.
Palm also announced that it expects sales to drop over the coming summer months. The company is predicting that sales will drop to between $175 million and $185 million, causing the company to make an operating loss of around $40 million.
Palm is not anticipating the handheld computing market to pick up in the short term, although the company believes that it will meet its main corporate objectives for this year.