Research In Motion Announces Revenue for 2007
|
Alfredo Padilla Published on April 12, 2007 Comment on this |
|
|
|
|
Yesterday Research In Motion (RIM), manufacturers of Blackberry devices, released a press release announcing their latest quarterly and annual results. Revenue for the fourth quarter of 2007 was $930.4 million, up 66% from the same quarter last year. Annual revenue was $3.0 billion, 47% above the previous year. Net income for the quarter was $.99 per share, just meeting analyst expectations.RIM’s results are preliminary as it awaits the results of an internal review regarding inappropriate back-dating of stock options. It’s press release stated that legal and administrative costs related to the scandal were higher than expected in the fourth quarter of 2007, and that these expenses were expected to extend into the first quarter of 2008.
RIM’s chairman stepped down last month as the company disclosed that it had back-dated stock options for high level executives to ensure a better share price. Several companies have been hit with stock option back-dating scandals recently, including Apple, Inc.
RIM added 1.02 million subscribers in the fourth quarter of 2007, bringing their subscriber base up to about 8 million. RIM manufacturers Blackberry devices and sells server systems that allow individuals to receive email as it arrives.
The press release is available here.
|
|
|