RIM net income soars to $934 Million for 3-mnth period ended Feb 26

Monday, 28 March 2011, 20:02 IST
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New York: Canada-based Research In Motion (RIM), has reported a 31 per cent jump in its net income at USD 934 million for the three-month period ended February 26, 2011, driven by strong sales of BlackBerry smartphones. In the year-ago period, the entity had a net income of USD 710 million, RIM said in a statement. The company''s total revenue increased to USD 5.55 billion for the fourth quarter ended February 26, 2011 from USD 4.08 billion in the previous year. Thus registering a growth of 36 per cent. The attributed its strong earnings to the sale of BlackBerry smartphones. During the quarter, RIM shipped about 14.9 million BlackBerry smartphones for a total of 52.3 million smartphones in fiscal 2011. For the fiscal 2011, RIM has posted a net income of USD 3.4 billion, up 47 per cent over previous fiscal. While revenue for the fiscal year ended February 26, 2011 was USD 19.9 billion, an increase of 33 per cent from previous year. "We are pleased to report record shipments and financial performance in fiscal 2011, RIM Co-CEO Jim Balsillie said. Balsillie further said, "As we enter fiscal 2012, RIM is in an excellent position to benefit from the continuing convergence of the mobile communications and mobile computing markets. We are laying a strong foundation for RIM''s expanding market opportunity through focused investments and we are extremely excited about our smartphone, tablet and platform road maps." Looking ahead, the company expects revenue to be in the range of USD 5.2 billion-USD 5.6 billion in the forthcoming quarter, while for the full year fiscal 2012, earnings per share to be in excess of USD 7.50. RIM said its guidance reflects a greater mix of lower-end devices coupled with additional spending related to the launch of its first tablet device -? the BlackBerry Playbook -? which will be available from April 19.
Source: PTI