Of Course, RIM Had Another Profitable Quarter

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Continuing a string of profitability that stretches back almost longer than most people can remember, Research in Motion Limited (RIM) has reported the financial results for its most recent quarter.

RIM’s net income was $111.1 million, or 56 cents per share diluted, as compared with net income of $70.6 million, or 36 cents per share diluted, in the same period last year.

Revenue was $490.1 million, up 58 percent from the same quarter of last year.

Of this, about 70 came from the sale of handhelds, 18 percent from service, 8 percent from software, and 4 percent from other sources.

Approximately 620,000 BlackBerry subscribers were added in the quarter, bringing the total to approximately 3.65 million.

As expected, subscriber additions during the quarter were hurt by summer seasonality, particularly in Europe.

Looking Ahead

RIM RIM executives predict that, during the current quarter, revenue will be in the range of $540 to $570 million, leading to a net profit between 62 and 68 cents per share diluted.

Subscriber additions during this quarter are expected to be in the range of 680,000 to 710,000.

“We are now expecting to surpass $2 billion in annual revenue and the 5 million subscriber milestone before the end of the fiscal year,” said Jim Balsillie, Chairman and Co-CEO at RIM.

Detailed financial results can be found on RIM’s web site.

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