It’s either now or never for Palm to make a stand. The pioneer in touch screen handheld devices is hopefully looking to a brighter future soon. They announced preliminary results for its third quarter of fiscal 2009, which ends February 27. The expected revenues for the third quarter of 2009 is somewhere in the range of $85 million to $90 million. No one seems to be gobbling up Palm’s devices powered by their aging operating system during this challenging economic environment. Adding to the list of headaches include numerous postponements of the release for the Palm Treo Pro in the United States. The hold back for that device is putting pressure for them to have a hit when the Palm Pre is released to the masses. Until that day arrives, they are expecting declining revenues and continuing margin pressure from its legacy product lines in the fiscal fourth quarter. In order to survive, they plan on investing a lot of cash for the launch of the Palm Pre and future product-development efforts. So it looks like Palm is putting all the eggs in one basket with the Pre. We’ll know for sure if the investment will be a huge pay off for them when the time comes.