RIM Continues Long String of Profitable Quarters

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Research In Motion Limited (RIM) has reported the results of its most recent financial quarter. Both revenue and profits were higher than the previous quarter.

Revenue for the quarter was $310.2 million, up 15 percent from $269.6 million in the previous quarter and up 147 percent from $125.7 million in the same quarter of last year.

The revenue breakdown for the quarter was approximately 71 percent for handhelds, 18 percent for service, 8 percent for software licenses and 3% for other revenue.

Net income for the quarter was at the high end of guidance at $70.6 million, or 36 cents per share diluted, compared to net income of $55.0 million or 28 cents per share diluted in the prior quarter.

RIM On a non-GAAP basis, RIM’s net income and earnings per share was $88.9 million and 45 cents per share, respectively. These figures exclude patent litigation payments the company must pay NTP, which came to $18.3 million or 9 cents per share diluted.

The total number of BlackBerry subscribers increased by approximately 317,000 from the prior quarter to 1.65 million subscribers.

Looking Ahead

During the current quarter, RIM expects revenue to be between $340 and $360 million. It believes earnings for this quarter will be in the range of 40 cents to 44 cents per share.

“RIM is reporting another strong quarter and we are pleased with our momentum as BlackBerry quickly approaches the two million subscriber mark,” said Jim Balsillie, Chairman and Co-CEO at RIM. “The current quarter is off to a good start with RIM and its partners executing well and continuing to expand the market opportunity within existing geographies. We are also making steady progress in terms of geographic expansion and look forward to entering new markets, including China, in the coming months.”

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