Quarter looks bad for Handspring
Analysts warn of steep losses, slumping sales
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. ®