WATERLOO, ON – As Research In Motion (RIM) prepares to launch the Playbook tablet next month, its fourth quarter revenues and earnings fell largely in line with forecasts.
Canada’s biggest technology firm reported that fourth quarter revenue grew 36% year-over-year to US$5.6 billion, which it brokedown as approximately 81% for devices, 16% for service, 3% for software and 3% for “other” revenue.
Revenue for the fiscal year ended February 26, 2011 was $19.9 billion, up 33% from $15 billion last year, while net income for fiscal 2011 was $3.4 billion, up 47% over fiscal 2010.
While RIM’s share of the global smart phone market has clearly taken a hit from rising competition, particularly Apple’s iPhone and Android-based phones, shipments of BlackBerry smart phones were up 43% over last year topping 52.3 million.
"We are pleased to report record shipments and financial performance in fiscal 2011," said RIM co-CEO Jim Balsillie, in a statement. "As we enter fiscal 2012, RIM is in an excellent position to benefit from the continuing convergence of the mobile communications and mobile computing markets. We are laying a strong foundation for RIM’s expanding market opportunity through focused investments and we are extremely excited about our smart phone, tablet and platform roadmaps."
Looking ahead, RIM predicted that revenue for its first quarter of fiscal 2012 would be in the range of $5.2 – $5.6 billion. The guidance range is slightly wider than normal to reflect the risk of potential disruption in its supply chain as a result of the recent earthquake in Japan, it added.
Click here for more on RIM’s financial results.
