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Research In Motion Reports Second Quarter Results
Revenue for the second quarter of fiscal 2010 was $3.53 billion, up 3% from $3.42 billion in the previous quarter
By: Yeshim Deniz
Sep. 24, 2009 09:45 PM
Research In Motion Limited (RIM) (NASDAQ: RIMM)(TSX: RIM), a world leader in the mobile communications market, today reported second quarter results for the three months ended August 29, 2009 (all figures in U.S. dollars and U.S. GAAP, except where indicated).
Revenue for the second quarter of fiscal 2010 was $3.53 billion, up 3% from $3.42 billion in the previous quarter and up 37% from $2.58 billion in the same quarter of last year. The revenue breakdown for the quarter was approximately 81% for devices, 14% for service, 2% for software and 3% for other revenue. During the quarter, RIM shipped approximately 8.3 million devices.
Approximately 3.8 million net new BlackBerry® subscriber accounts were added in the quarter. At the end of the quarter, the total BlackBerry subscriber account base was approximately 32 million.
"We are pleased to report a strong second quarter with excellent financial performance, successful product launches and accelerating growth in international markets and new market segments," said Jim Balsillie, Co-CEO at Research In Motion. "RIM is entering the second half of the fiscal year and approaching the holiday buying season with an impressive product portfolio, continuing business momentum and strong marketing support from our partners around the world."
GAAP net income for the quarter was $475.6 million, or $0.83 per share diluted, compared with GAAP net income of $643.0 million, or $1.12 per share diluted, in the prior quarter and net income of $495.5 million, or $0.86 per share diluted, in the same quarter last year. Adjusted net income for the second quarter was $588.4 million, or $1.03 per share diluted, reflecting a tax rate of 28.5%. Adjusted net income and adjusted diluted earnings per share exclude the impact of a charge of $112.8 million for the payment of the settlement of all outstanding worldwide patent litigation with Visto Corporation, the details of which were disclosed in a press release dated July 16, 2009. This charge and its related impacts on net income and diluted EPS are summarized in the table below.
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