TORONTO-Research in Motion (RIM) reported a smaller-than-expected adjusted fourth-quarter loss yesterday, boosted by a 32-percent jump in revenues from a year earlier.
In the fourth quarter ended 1 March, RIM’s losses widened to US$12.6 million or 16 U.S. cents a share from US$8.6 million or 11 U.S. cents a year earlier. Fourth quarter revenue rose to US$87.5 million from US$66.1 million.
The Canadian-based company, maker of the popular BlackBerry wireless devices, also expects the first quarter ending 31 May to improve. It raised revenue estimates for that period to be between US$90 million and US$100 million. The manufacturer previously expected an adjusted loss of 8 to 13 U.S. cents on sales of US$85 million to US$95 million.
“We’re very pleased with RIM’s financial performance in the quarter,” said Jim Balsillie, chairman and co-chief executive officer. He attributed the performance to the availability of new products, such as the BlackBerry 6750 and 6510.
RIM also updated investors yesterday about one of its four lawsuits against startup Good Technology. Following a Wednesday hearing, a judge with the California Superior Court denied RIM’s request for a preliminary injunction and instead ordered that the matter proceed to a trial. No date has yet been set.
