WATERLOO, ONTARIO--(Marketwire - April 2, 2008) - Research In Motion Limited (RIM) (NASDAQ:RIMM)(TSX:RIM), a world leader in the mobile communications market, today reported results for the three months and fiscal year ended March 1, 2008 (all figures in U.S. dollars and U.S. GAAP).
Revenue for the fourth quarter of fiscal 2008 was $1.88 billion, up 102% from $930.4 million in the same quarter of last year. The revenue breakdown for the quarter was approximately 81% for handhelds, 14% for service, 3% for software and 2% for other revenue. Revenue for the fiscal year ended March 1, 2008 was $6.01 billion, up 98% from $3.04 billion last year. RIM shipped 4.4 million smartphones in the fourth quarter and approximately 14 million smartphones during fiscal 2008.
Approximately 2.18 million net new BlackBerry(R) subscriber accounts were added in the quarter. At the end of the quarter, the total BlackBerry subscriber account base was over 14 million.
"We are pleased to report another year of very strong growth with shipments of approximately 14 million BlackBerry smartphones and total revenue of $6 billion. Heightened retail activities helped drive exceptional subscriber growth during the fourth quarter with net subscriber account additions growing more than 32% over the previous quarter and well over 2 million net subscriber accounts added in a single quarter for the first time," said Jim Balsillie, Co-CEO at Research In Motion. "Looking forward, the prospects for RIM and the industry are more exciting than ever and we will continue to work closely with a thriving ecosystem of partners to build on our momentum during the year ahead."
Net Income for the quarter was $412.5 million, or $0.72 per share diluted, compared with net income of $370.5 million, or $0.65 per share diluted, in the prior quarter and net income of $187.4 million, or $0.33 per share diluted, in the same quarter last year. For the fiscal year 2008, net income was $1.29 billion, or $2.26 per share diluted, up 105% over fiscal 2007.
Revenue for the first quarter of fiscal 2009 ending May 31, 2008 is expected to be in the range of $2.23-$2.30 billion. Net subscriber account additions in the first quarter are expected to be approximately 2.2 million. Earnings per share for the first quarter are expected to be in the range of $0.82-$0.86 per share diluted.
The total of cash, cash equivalents, short-term investments and long-term investments was $2.34 billion as at March 1, 2008, compared to $2.13 billion at the end of the previous quarter, an increase of $211 million over the prior quarter. Uses of cash in the quarter included capital expenditures of $110 million and the acquisition of intangible assets of $310 million.
The replay of the company's Q4 conference call can be accessed after 7 p.m. (eastern), April 2, 2008 until midnight (eastern), April 16, 2008. It can be accessed by dialing 416-640-1917 and entering passcode 21221696#. The conference call will also appear on the RIM web site, live at 5:00 pm (eastern) and archived at
www.rim.com/investors/events/index.shtml until midnight April 16, 2008.
About Research In Motion (RIM)
Research In Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information including email, phone, SMS messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity. RIM's portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry(R) wireless platform, the RIM Wireless Handheld(TM) product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq Stock Market (NASDAQ:RIMM) and the Toronto Stock Exchange (TSX:RIM). For more information, visit
www.rim.com or
www.blackberry.com.
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws, including statements relating to RIM's revenue and earnings expectations for the first quarter of fiscal 2009 and anticipated growth in subscribers. The terms and phrases, "looking forward", "belief", "will", "continue", "expected", "forecast", "plans" and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RIM believes are appropriate in the circumstances including but not limited to general economic conditions, product pricing levels and competitive intensity, supply constraints and new product introductions. Many factors could cause RIM's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks relating to the restatement of RIM's previously filed financial statements as a result of the internal review of RIM's historical option granting practices, and regulatory investigations and litigation relating to those matters, including possible sanctions or penalties against the Company or its directors or officers; risks relating to RIM's intellectual property rights; risks relating to the efficient and uninterrupted operation of RIM's network operations center; restrictions on import and/or use of RIM's products in certain countries due to encryption of the products; RIM's ability to enhance current products and develop new products and services; RIM's reliance on carrier partners, third-party manufacturers, third-party network developers and suppliers; and intense competition. These risk factors and others relating to RIM are discussed in greater detail in the "Risk Factors" section of RIM's Annual Information Form, which is included in its Annual Report on Form 40-F and RIM's MD&A (copies of which filings may be obtained at
www.sedar.com or
www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on RIM's forward-looking statements. RIM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. RIM, Research In Motion and BlackBerry are registered with the U.S. Patent and Trademark Office and may be pending or registered in other countries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners.
For more information please contact:
Lammers van Toorenburg Benelux PR
Paul Maris
+31 (0)30 - 65 65 070
BlackBerry@lvtpr.nl RIM
Julie Paillard
Public Relations Manager, France & Benelux
+33 6 62 11 38 43
jpaillard@rim.com Investor Contact
RIM Investor Relations
+1 (519) 888-7465
investor_relations@rim.com