Palm Guides in Line

The stock slips in late trading.
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SAN FRANCISCO -- Smartphone maker

Palm

(PALM)

said Wednesday that it will report results in line with analysts' expectations.

Excluding charges, the company expects to post earnings per share of 8 cents to 9 cents a share for the first quarter fiscal 2008, bracketing Street expectations of 8 cents a share. Palm reported earnings of 21 cents a share in the year-ago quarter.

Revenue is likely to be in the range of $359 million to $361 million for the quarter, Palm said. Analysts polled by Thomson Financial are expecting revenue of $359.9 million. The company reported revenue of $355.7 million the same quarter a year ago.

Shares of Palm were recently off nearly 3% to $15.32 in recent after-hours trading.

Smartphone revenue is expected to be in the range of $300 million to $302 million for the quarter, and smartphone sell-through is expected to range between 685,000 units to 690,000 units, said Palm.

The company expects gross margin in the range of 36% to 36.2%.

Palm will report its full results for the first quarter on Oct. 1.