Approximately 2.3 million net new BlackBerry(R) subscriber accounts were added in the quarter. At the end of the quarter, the total BlackBerry subscriber account base was over 16 million.
"We are pleased to report another record quarter with revenue increasing 107% as the popularity of the BlackBerry platform continued to spread in business, government and consumer segments. Our comprehensive technology and business strategies continue to reap strong results in the market and RIM is well positioned to build on its momentum throughout the remainder of fiscal 2009," said Jim Balsillie, Co-CEO at Research In Motion. "As we prepare this summer to ship our 40 millionth BlackBerry smartphone, we continue to steadily scale our business and partnerships to support the opportunities ahead in this thriving sector."
Net income for the quarter was $482.5 million, or $0.84 per share diluted, compared with net income of $412.5 million, or $0.72 per share diluted, in the prior quarter and net income of $223.2 million, or $0.39 per share diluted, in the same quarter last year.
Revenue for the second quarter of fiscal 2009 ending August 30, 2008 is expected to be in the range of $2.55-$2.65 billion. Net subscriber account additions in the second quarter are expected to be approximately 2.6 million. Earnings per share for the second quarter are expected to be in the range of $0.84-$0.89 per share diluted.
The total of cash, cash equivalents, short-term and long-term investments was $2.08 billion as at May 31, 2008, compared to $2.34 billion at the end of the previous quarter, a decrease of $267 million over the prior quarter. Uses of cash in the quarter included the payment of Canadian income tax of approximately $460 million and capital and intangible expenditures of approximately $293 million.
The replay of the company's Q1 conference call can be accessed after 7:00 pm (eastern), June 25, 2008 until midnight (eastern), July 10, 2008. It can be accessed by dialing 416-640-1917 and entering passcode 21252982#. The conference will also appear on the RIM web site, live at 5:00 pm (eastern) and archived at http://www.rim.com/investors/events/index.shtml.