Corrective: Palm earnings story
By APMonday, September 21, 2009
Corrective: Palm earnings story
NEW YORK — In a Sept. 17 story on Palm Inc.’s quarterly earnings, The Associated Press understated by about $100 million the amount of cash and cash equivalents held by Palm. The story failed to include $101.8 million in short-term investments, which are easily converted into cash, which would bring the total to $211.8 million, rather than $110 million as reported.
By that measure, Palm said it used $45.1 million in cash for operations during the quarter, not $42 million.
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