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Research in Motion revenue well up

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Research In Motion Limited (RIM) has reported revenue for the for the first quarter of fiscal 2009 of $2.24-billion, up 19% from $1.88-billion in the previous quarter and up 107% from $1.08-billion in the same quarter of last year.

The revenue breakdown for the quarter was approximately 82% for devices, 13% for service, 3% for software and 2% for other revenue. During the quarter, RIM shipped approximately 5.4-million devices.
Approximately 2.3-million net new BlackBerry subscriber accounts were added in the quarter. At the end of the quarter, the total BlackBerry subscriber account base was over 16-million.
“We are pleased to report another record quarter with revenue increasing 107% as the popularity of the BlackBerry platform continued to spread in business, government and consumer segments. Our comprehensive technology and business strategies continue to reap strong results in the market and RIM is well positioned to build on its momentum throughout the remainder of fiscal 2009,” says Jim Balsillie, co-CEO at Research In Motion.
"As we prepare this summer to ship our 40-millionth BlackBerry smartphone, we continue to steadily scale our business and partnerships to support the opportunities ahead in this thriving sector.”
Net income for the quarter was $482.5-million, or $0.84 per share diluted, compared with net income of $412.5-million, or $0.72 per share diluted, in the prior quarter and net income of $223.2-million, or $0.39 per share diluted, in the same quarter last year.
Revenue for the second quarter of fiscal 2009 ending 30 August 2008 is expected to be in the range of $2.55-billion to $2.65-billion.  Net subscriber account additions in the second quarter are expected to be approximately 2.6-million. Earnings per share for the second quarter are expected to be in the range of $0.84-$0.89 per share diluted.
The total of cash, cash equivalents, short-term and long-term investments was $2.08-billion as at May 31, 2008, compared to $2.34-billion at the end of the previous quarter, a decrease of $267-million over the prior quarter. Uses of cash in the quarter included the payment of Canadian income tax of approximately $460-million and capital and intangible expenditures of approximately $293-million.