Palm has lowered its expectations for profits during the quarter ending August 31. The company expects to break even or lose one cent per share on revenue of $359 million to $361 million. Previously, the company expected to make one cent per a share on revenue of $355 million to $365 million. This time last year, Palm posted a profit of 16 cents per share, which came out to 21 cents when special items were excluded.
Palm's senior vice president of engineering, Michael Farese left the company after two years onboard. Farese joined BitWave Semiconductor, a developer of radio frequency integrated circuits for handsets, as president and CEO. Farese helped develop the Treo 700 (photo) and Treo 750 (photo).