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Wednesday, October 10, 2007
RIM is Exploding (In a Good Way)

RIM,maker of the BlackBerry line of smartphones, has just reported that during its most recent financial quarter, the revenue was over twice what the company took in during the same period of 2007. Naturally, this resulted in a very profitable quarter.

"Results were exceptionally strong on all metrics including revenue, subscriber account additions and net income," said Jim Balsillie, Co-CEO at RIM. "With over ten million BlackBerry subscriber accounts and over twenty million handsets shipped, we are pleased with our position in the market today and we expect recent product and market initiatives to extend our business momentum through the remainder of the fiscal year."

Results by the Numbers

Revenue for the period -- the three months that ended September 1 -- was $1.37 billion, up 27% from $1.08 billion in the previous quarter and up 108% from $658.5 million in the same quarter of last year.

The revenue breakdown for the quarter was approximately 78% for devices, 15% for service, 4% for software and 3% for other revenue.

Income for the quarter was $287.7 million, or 50 cents per share, compared with net income of $223.2 million, or 39 cents per share, in the prior quarter and net income of $140.2 million, or 25 cents per share, in the same quarter of last year.

Approximately 1.45 million BlackBerry subscriber accounts were added, and over 3 million devices were shipped. The company's total subscriber base at the end of the quarter was approximately 10.5 million.

Looking Forward

RIM says that revenue for the current fiscal quarter, which will end December 1, is expected to be in the range of $1.60 to $1.67 billion.

Earnings per share are expected to be in the range of 59 to 63 cents per share.

BlackBerry subscriber account additions during this period are expected to be about 1.65 million.

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