BlackBerry maker Research In Motion Ltd. announced another gangbuster quarter, showing increasing revenues, a rising net income and an even better outlook for the future.
“Innovation and execution continued to drive RIM’s business in the fourth quarter. We surpassed the pivotal 1 million subscribers mark, and the continuing escalation of BlackBerry’s popularity is evident in our fourth-quarter results and outlook,” said Jim Balsillie, RIM’s chairman and co-chief executive officer. “The past fiscal year saw dramatic progress on both operational and strategic fronts as RIM and its partners achieved significant traction in the market and continued to expand the reach of the BlackBerry platform around the world.”
RIM’s stock was down slightly after the news to about $102.72.
RIM reported revenues for its fourth quarter of $210.6 million, up 37 percent from the $153.9 million it reported in the previous quarter. The company’s net income clocked in at $41.5 million, way up from the $16.3 million it scored in the prior quarter. The company’s cash, cash equivalents, short-term and long-term investments totaled $1.49 billion.
Further, RIM said it is increasing its guidance for the next two quarters, news that comes after its announcement of a two-for-one stock split. The company said it expects revenues in its first quarter of between $250 million and $265 million and revenue in its second quarter to be between $270 million and $290 million.
In other RIM news, research and consulting firm American Technology Research said it expects Sprint PCS to begin selling RIM’s BlackBerry devices within the next two quarters. The deal is significant as Sprint PCS is the only remaining nationwide carrier in the United States that is not selling RIM’s wireless e-mail devices. Officials from Sprint and RIM did not return requests for comment.
