14 DAY TRIAL // Research In Motion seems to be in a rather great shape these days, as the latest fiscal fourth quarter results it posted show. The company's results for the time frame were higher than expected, as its revenues went up by 84 percent compared to the same period a year ago.
The company that brought to life the popular BlackBerry smartphones reported that its revenues totaled $3.46 billion, compared to the $1.88 billion registered a year before, higher than Thomson Financial's prevision of $3.4 billion. At the same time, the net income went up by almost 26 percent, reaching $518.3 million, or 90 cents a share, compared to the $412.5 million, or 72 cents, the company registered the year before. Previous forecasts only stated that the company would register earnings of 84 cents a share.
The phone maker's shares also went up, reaching $59.65 in after-hours trading, a growth of 22 percent. Compared to the regular session, when they closed down at $49.09, RIM's shares climbed almost 8 percent. According to the company, a net 3.9 million new BlackBerry subscriber accounts were gained, and it managed to ship 7.8 million devices in the quarter.
“We are very pleased to report another record quarter with standout subscriber growth that speaks volumes about the early success and momentum of our new BlackBerry products,” stated Jim Balsillie, RIM's co-CEO. “RIM experienced an extraordinary year in fiscal 2009, shipping our 50 millionth BlackBerry smartphone and generating $11 billion in revenue. Looking ahead into fiscal 2010, we see exceptional opportunities for RIM and its partners to leverage the investments and success of the past year to continue growing market share and profitability,” he added.
Interestingly enough, the company's executives also stated, during a conference call with analysts, that half of their BlackBerry accounts were formed of consumers, which represented a shift from the enterprise customer focus RIM was known for. At the same time, it seems that the newly introduced Storm handset has seen a high level of success, being able to help the company register a growth in sales and subscriber numbers. In addition, the phone maker also stated that one of the regions that saw a fast growth was Latin America, with areas like Venezuela, Chile, and Brazil.
During the current quarter, says RIM, it should be able to post revenues of $3.3 billion to $3.5 billion in the fiscal first quarter ending on May 30. At the same time, the company expects to see earnings of 88 cents to 97 cents a share. The gross margin in the quarter is predicted to be of 43 percent to 44 percent, while the net subscriber accounts should total 3.7 million to 3.9 million.