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RIM Reports Quarterly Results with Revenue Down
      #42913 - 06/29/12 02:52 PM

Research in Motion (RIM) today reported first quarter results for the three months ended June 2, 2012 (RIM's first quarter fiscal 2013). Below are the highlights of the quarterly results. All figures are in U.S. dollars and U.S. GAAP.

Here are the highlights:

-Cash, cash equivalents, short-term and long-term investments increased to $2.2 billion at ht end of the first quarter
-Cash flow from operations was approximately $710 million in the first quarter
-Revenue of $2.8 billion in Q1, down 33% from $4.2 billion in the prior quarter
-GAAP net loss in Q1 of $518 million or $0.99 per share diluted; adjusted net loss of $192 million or $0.37 per share diluted.
-Shipments of BlackBerry smartphones were 7.8 million and shipments of BlackBerry PlayBook tablets were approximately 260,000
-Blackberry 10 smartphone launch now scheduled for Q1 of calendar 2013
--Restructuring efforts underway that will include a workforce reduction of approximately 5,000 employees as part of RIM's efforts to realize over $1 billion in cost savings, based on RIM's Q4 FY2012 run rate
-Launched World Tour BlackBerry Jam developer sessions in 23 countries resulting in strong adoption and support by application and developer partners for BlackBerry 10 platform
-BlackBerry App World continues to grow with over 89,000 applications available
-The overall BlackBerry subcriber base continued to grow, and the subscriber base grew in all regions except for North America
-RIM names Steve Zipperstein, former General Counsel of Verizon Wireless, as Chief Legal Officer.

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