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RIM Bucks Markets With Record Q4 Results

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The signs of economic recovery or just further proof good products sell...?

In all fairness I suspect the latter (despite the tragic death of Pioneer TV production suggesting otherwise) as RIM has brought some much needed positivity to the markets with some rather excellent Q4 financials.

Following up news in February that the company had shifted its 50 millionth Blackberry the Canadian giant proclaimed revenue of $3.46bn, up 24.5 per cent from $2.78bn in Q3 and a massive 84 pet cent on the $1.88bn during the same quarter last year. Revenue for the fiscal year was also highly impressive totalling $11.07bn, a massive 84 per cent increase from $6.01bn last year. Net income (profit, to you and I) during Q4 was $518.3m compared to $412.5m in the previous Q4 and annually reached $1.89bn - up 46.3 per cent over fiscal 2008.

Just as encouraging, prediction for the first quarter of fiscal 2010 (ending 30 May 2009) is expected to range from $3.3-$3.5bn with gross margin for Q1 at a massive 43-44 per cent. 3.7-3.9m additional subscribers should be secured during this period as well to bolster the 25m existing account base.

"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," said rightfully chirpy RIM co-CEO Jim Balsillie. "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."

You're spot on Jim, now just keep your hands out the cookie jar...

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Press Release

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