WATERLOO – Research In Motion will most likely record an operating loss for its first quarter when its financial results are released next month, the BlackBerry maker said Tuesday.
President and CEO Thorsten Heins said in a statement that the company is going through “a significant transformation” as it prepares to launch the BlackBerry 10, and warned that its financial performance “will continue to be challenging for the next few quarters”.
“The on-going competitive environment is impacting our business in the form of lower volumes and highly competitive pricing dynamics in the marketplace, and we expect our Q1 results to reflect this, and likely result in an operating loss for the quarter”, he said.
He also said that RIM has hired JPMorgan Chase & Co. and RBC Capital Markets to help in its strategic review process.
“These advisors have been tasked to help us with the strategic review we referenced on our year-end financial results conference call and to evaluate the relative merits and feasibility of various financial strategies, including opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives”, Heins continued.
RIM’s financial results for the first quarter ended June 2, 2012 will be released on June 28.
