Palm delivered sobering news to Wall Street this afternoon, announcing that its fourth-quarter revenue will fall significantly short of estimates. Palm expects revenues to be around US$230 million, compared to the $290 million to $300 million it had previously forecast, and as a result will not yet achieve profitability as it had hoped. The company cited lower-than-expected demand for the shortfall. Shares of Palm declined more than 16 percent in after-hours, after closing down nearly 5 percent for the day.