subscribe: Daily Newsletter

 

Research In Motion reports second quarter results

0 comments

Research In Motion Limited (RIM) has reported second quarter results for the three months ended 1 September 2007.
Revenue for the second quarter of fiscal 2008 was $1,37-billion, up 27% from $1,08-billion in the previous quarter and up 108% from $658,5-million in the same quarter of last year.

The revenue breakdown for the quarter was approximately 78% for devices, 15% for service, 4% for software and 3% for other revenue.
Approximately 1,45-million BlackBerry subscriber accounts were added in the quarter and more than 3-million devices were shipped. The total BlackBerry subscriber account base at the end of the second quarter was approximately 10,5-million.
"RIM’s second quarter results were exceptionally strong on all metrics including revenue, subscriber account additions and net income," says Jim Balsillie, Co-CEO at RIM. "This growth is fueled by the depth of the BlackBerry product portfolio and the continued diversification of our business across market segments and geographies.
"With more than 10-million BlackBerry subscriber accounts and over twenty million handsets shipped, we are pleased with our position in the market today and we expect recent product and market initiatives to extend our business momentum through the remainder of the fiscal year."
Income for the quarter was $287,7-million, or $0.50 per share diluted, compared with net income of $223,2-million, or $0.39 per share diluted, in the prior quarter and net income of $140,2-million, or $0.25 per share diluted, in the same quarter last year. The earnings per share reflects the effective three-for-one stock split that was implemented in the quarter.
Revenue for the third quarter of fiscal 2008 ending q December 2007 is expected to be in the range of $1,60-billion to $1,67-billion. Subscriber account additions in the third quarter are expected to be approximately 1,65-million.  Earnings per share for the third quarter are expected to be in the range of $0.59-0.63 per share diluted.
The total of cash, cash equivalents, short-term and long-term investments was $1,73-billion as at 1 September 2007, compared to $1,56-billion at the end of the previous quarter, an increase of $166-million over the prior quarter. Uses of cash in the quarter included capital expenditures of approximately $79-million.