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Palm warned that its quarterly revenue will miss Wall Street expectations due to lower demand for its older phones, the weak economy and later-than-expected U.S. shipments of its Treo Pro.
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Palm [PALM
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] also said on Tuesday that it expected declining revenues and continued margin pressure from its legacy products in the current quarter, even as the company prepares to launch its new Pre touch-screen phone to compete against rivals like Apple's [AAPL
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] iPhone.
"The much-anticipated launch of the Palm Pre remains on track for the first half of calendar year 2009, but as expected we've got a difficult transition period to work through," Palm Chief Executive Ed Colligan said in a statement.
In preliminary results for its fiscal third quarter ended Feb.27, Palm said it expected revenue to fall to a range of $85 million to $90 million.
That compared with the average analyst forecast for revenue of $155 million, according to Reuters Estimates.
Palm shares were trading down close to ten percent after the bell.
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