Palm plummets on poor sales forecast

Palm said sales in the fourth quarter ending this month will be US$140 million to US$160 million, instead of the US$300 million to US$315 million forecast in March. The company's loss, excluding amortization, legal settlements and certain other items, will be US$170 million to US$190 million. In March, the company projected a loss of US$80 million to US$85 million.