WATERLOO, ON – Research In Motion (RIM) reported an 84% jump in revenue for fiscal 2009, bringing its yearly total to $11.07 billion, up from $6.01 billion last year.
Fourth quarter revenue was up 24.5% from the previous quarter to $3.46 billion, and up 84% from $1.88 billion in the same quarter of last year. The revenue breakdown for the quarter was approximately 83% for devices, 12% for service, 2% for software and 3% for other revenue, the press release detailed.
RIM shipped approximately 7.8 million devices in the fourth quarter and approximately 26 million devices during fiscal 2009 which ended February 28, 2009 . The company added approximately 3.9 million net new BlackBerry subscriber accounts in the quarter, bringing the total BlackBerry subscriber account base to approximately 25 million by quarter end.
"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 Jim Balsillie, RIM’s co-CEO, in the press release. “RIM experienced an extraordinary year in fiscal 2009, shipping our 50 millionth BlackBerry smart phone and generating $11 billion in revenue.”
Net income for the quarter was $518.3 million, compared with net income of $396.3 million in the prior quarter, and net income of $412.5 million in the same quarter last year. For the fiscal year 2009, net income was $1.89 billion up 46.3% over fiscal 2008.
Going forward, the BlackBerry maker forecast revenue for its first quarter of fiscal 2010 ending May 30, 2009 to be in the range of $3.3-$3.5 billion, with gross margin expected to be approximately 43-44%. Net subscriber account additions in the first quarter are expected to be between 3.7 – 3.9 million.
“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," Balsillie continued.
