Palm Posts Quarterly Loss as Sales Fall 29%

Palm Inc. had a $172.3-million loss in its fiscal third quarter as the company fired workers and sales dropped for a second straight quarter.

The net loss was $5.93 a share, compared with profit of $2.95 million, or 10 cents, a year earlier, Palm said. The computer maker’s sales fell 29% to $209 million.

Palm shares rose 19 cents to $10.89 on Nasdaq.