Palm Slapped on Weak Guidance
But its forecast implies an earnings range of about $1.03 to $1.10 a share on sales ranging from $1.89 billion to $1.97 billion assuming its interest income and share count rise modestly.
On this basis for the full year, analysts had called for $1.03 a share in profit on sales of $1.83 billion. For all of its just-completed fiscal year, the company earned $336.2 million, or $3.19 a share, on sales of $1.58 billion, thanks to a nearly $220 million tax benefit.
Without the tax benefit, stock-options expenses and other charges, the company would have earned $88.5 million, or 85 cents a share.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV