Quarter looks bad for Handspring
Analysts warn of steep losses, slumping sales
Posted in Business, 11th October 2001 10:23 GMT
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When Handspring posts the results of its most recently completed fiscal quarter next Wednesday (17 October), it is likely to report a significant slump in sales and deep losses.
So, at any rate, warn Wall Street analysts. First Call/Thomson's survey of Handspring watchers' forecasts put the PDA maker's Q1 2002 loss at 16-29 cents a share. Revenue, they reckon, will come in between $57 million and $125 million.
This time last year, Handspring reported revenues of $70.5 million and a net loss of $8 million. Last quarter (Q4 2001), Handspring recorded sales of $61 million and a net loss of $32.4 million.
As such, it's hard to see sales coming in toward the top end of the predicted range, but Handspring could surprise us yet. We doubt it: the company's own guidance suggests we should expect revenues in the range $60-64 million and a loss of 26-27 cents a share. And the price cuts the company has made during the quarter won’t help lift revenues. ®
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