RIM Reports First-Quarter Loss
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.