Friday, July 29, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Alphabet Posts Strong Revenue on Video Market
Games Outweigh Sagging Sensors For Sony
Microsoft To Further Cut Jobs Towards The Final Exit From Phone Business
AMD Radeon RX 470 And RX 460 Are Shipping in Early August
Worldwide Smartphone Volumes Relatively Flat in Q2 2016
Oracle to Buy NetSuite for $9.3 Billion
Samsung and Nestle Collaborate on the Internet of Things and Nutrition
Home Appliance and Home Entertainment Units Help LG's Quarterly Profits
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Mobiles > RIM pro...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, July 02, 2007
RIM profits up by 73%


Research in Motion (RIM) has reported the results of a very successful financial quarter. The company enjoyed tremendous growth in both revenue and profits. In addition, it is going to reduce its stock price by tripling the number of shares that are available.

Its net income for the quarter ending June 2 was $223 million, or $1.17 per share. For comparison, RIM earned $129 million, or 67 cents per share, during the same period of last year. That's a 73% year over year increase.

These profits came from an equally strong increase in revenue. RIM took in $1.082 billion, up 77% from $613 million in revenue in the same quarter of last year.

More BlackBerries

And the good news for RIM didn't end there. During the quarter, RIM shipped approximately 2.4 million devices, and its closing in on shipping its 20 Millionth BlackBerry.

The total number of BlackBerry subscriber accounts in the quarter increased by approximately 1.2 million to over 9 million total subscriber accounts.

"After completing our first billion dollar quarter, we are now preparing to ship the 20 millionth BlackBerry handset this summer," said Jim Balsillie, Co-CEO at RIM.

Announcing a Stock Split

RIM's stock is currently selling for around $165, and its Board of Directors seems to think that's too high, so it has approved a 3-for-1 stock split.

This will be implemented as a stock dividend in which shareholders will receive two common shares of the company for each share already held. This will be payable on August 20 to shareholders at the close of business on August 17.

The total number of RIM common shares currently outstanding is 186 million. Adjusting for the stock split, the total number will be 558 million.

Looking Ahead

RIM is looking ahead to another outstanding quarter. It expects revenue for the period ending September 1 to be in the range of $1.3 billion to $1.365 billion. Subscriber account additions in the second quarter are expected to be in the range of 1.325 to 1.375 million.

The company says its earnings for the second quarter are expected to be in the range of $1.37 to $1.49 per share, or 45 cents to 49 cents per share on a post-split basis, factoring the effective 3-for-1 stock split.


Previous
Next
New Palm OS Delayed until 2008        All News        Half a Million and Counting
New Palm OS Delayed until 2008     Mobiles News      Half a Million and Counting

Get RSS feed Easy Print E-Mail this Message

Related News
BlackBerry Unveils The DTEK50 Android Smartphone
BlackBerry Could Release A New Phone Based On Its BB10 System
BlackBerry To Stop Manufacturing Classic Smartphone
Software Boosts Blackberry's First Quarter Results
LG's Portable Art Speaker Combine Art With Music
Blackberry Introduces Single Platform For Multi-OS Mobile Management
New BeoPlay A1 Speaker Offers Solid Audio And Portability
New Android Phones By Blackberry Coming This Year
BlackBerry Reports Revenue Drop
Verizon Wireless to Pay $1.35 Million Fine to Settle "Supercookie" Probe
Blackberry Launches Cybersecurity Services For Enterprises
BlackBerry Cuts 200 Jobs To Trim Costs

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .