WATERLOO, Ontario-Research In Motion Ltd. scored gains above analyst expectations, upbeat news that sent the company’s stock up about 6 percent to about $15 per share in trading.
RIM reported revenues for the fourth quarter of $87.5 million, up from expectations and above the $74.2 million the company earned in the previous quarter. Net loss for the quarter was $12.6 million. The total number of BlackBerry subscribers increased to 534,000.
However, RIM acknowledged the cloud hanging above the company in its legal battle against NTP Inc. RIM previously announced it would take a charge of $6.9 million for litigation, but the company also said it will create an escrow and will deposit an amount equal to 5.7 percent of its quarterly infringing revenues in order to account for any potential future damages.
“We stayed focused on executing our business plan this year and succeeded in strengthening our position as well as setting the stage for future growth,” said Jim Balsillie, RIM’s chairman and co-chief executive officer. “This year we have further entrenched our leadership position in the enterprise sector and we are well poised for continuing growth in broader market segments.”
