Palm Says Revenue Will Be Lower Than Expected, Cites Slow Sales

Handset manufacturer Palm has updated its guidance this morning, indicating that revenues for the quarter and full year will be "well below its previously forecasted range of $1.6 billion to $1.8 billion". The company expects that revenues for the third quarter of fiscal year 2010 will be in the range of $285 million to $310 million on a GAAP basis. In a statement, Palm says slower sales are due to "slower than expected consumer adoption" of its products, resulting in lower than expected order volumes from carriers and the deferral of orders to future periods.