RIM Reports First-Quarter Loss

 
 
By Carmen Nobel  |  Posted 2002-07-03 Print this article Print
 
 
 
 
 
 
 

Research in Motion Ltd. reported a first quarter loss of $10.8 million, or 14 cents a share, for the quarter, beating analysts' expectations.

BlackBerry e-mail device maker Research In Motion Ltd. this week reported a first quarter loss that was smaller than analysts expectations. The Waterloo, Ontario, company reported a loss of $10.8 million, or 14 cents a share, for the quarter, compared with net income of $3.8 million, or 5 cents a share, for the same quarter last year. "I am pleased to report that RIM has once again achieved its quarterly performance targets as well as the strategic milestones that drive our continued success and leadership in the wireless enterprise sector," said chairman and co-CEO Jim Balsillie in a statement.
Revenues in the quarter fell to $71.6 million from $77 million in the same quarter last year.
On the other hand, RIM cut its full-year revenue target from a range of $375 million to $425 million to a range of $350 million to $375 million. Officials owed this to carriers rolling out new BlackBerry devices more slowly than expected. Related Stories:
  • Wireless Carriers Expand Their BlackBerry Services
  • RIM Extends BlackBerrys Data Features
  • RIM Takes Global Route
  • RIM Offers More Flavors of BlackBerry
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