Handspring this evening confirmed its revenue projections for the remainder of its fiscal year, after seeing its stock drop over 26% in after hours trading.
The drop was caused by grim sales forcasts released by Palm, indicating that demand is dropping off. Palm's CFO Judy Bruner called the outlook a "significant decrease from our previous expectations." Palm's stock plunged 35% after the outlook was released.
However, Handspring's Donna Dubinsky claims that "while no company is immune to current economic conditions, we see continued sales growth in our business at this time. The growing acceptance of the Springboard expansion slot, now with 45 modules available, combined with the positive reception of our recently shipping Visor Edge product, gives us confidence in our continued product and market momentum."
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