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RIM revenue increases 24pc for Q3 of fiscal 2012

RIM revenue increases 24pc for Q3 of fiscal 2012

RIM revenue increases 24pc for Q3 of fiscal 2012

BlackBerry maker Research in Motion (RIM) drew revenue of US$5.2bn for the third quarter of fiscal 2012, marking a 24pc increase from US$4.2bn in the previous quarter.

The figure is also a decrease of 6pc from US$5.5bn in the same quarter of last year.

The revenue breakdown for the quarter was about 79pc for hardware, 19pc for service and 2pc for software and other revenue.

During the quarter, RIM shipped about 14.1m BlackBerry smartphones - up 33pc from Q2 - and about 150,000 BlackBerry PlayBook tablets.

The number of subscribers increased 35pc year-over-year to almost 75m.

RIM's results for the three months ended 26 November 2011 also reveal GAAP net income of US$265m or US$0.51 per share diluted; adjusted net income of US$667m or US$1.27 per share diluted.

Cash flow from operations amount to about US$895m, while total of cash, cash equivalents, short-term and long-term investments is US$1.5bn.

"RIM launched a range of new BlackBerry 7 based smartphones globally and introduced holiday promotions that helped drive growth in the installed base of BlackBerry PlayBook users," RIM co-CEOs Jim Balsillie and Mike Lazaridis said in a statement.

"RIM continues to have strong technology, unique service capabilities and a large installed base of customers, and we are more
determined than ever to capitalise on our strengths to overcome the recent execution challenges surrounding product launches and the resulting financial performance.

"As part of our commitment to improving our performance to better meet the expectations of shareholders and customers, we continue to evaluate ways to improve in several areas of the company's operations. It may take some time to realise the benefits of these efforts and the platform transition that we are undertaking, but we continue to believe that RIM has the right set of strengths and capabilities to maintain a leading role in the mobile communications industry."

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