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(June 29, 2006) - Research In Motion Limited (RIM) (TSX:RIM)(Nasdaq:RIMM), a world leader in the ... Smartphone News forum

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    Just in: Research In Motion Reports First Quarter Results

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    (June 29, 2006) - Research In Motion Limited (RIM) (TSX:RIM)(Nasdaq:RIMM), a world leader in the mobile communications market, today reported first quarter results for the three months ended June 3, 2006 (all figures in U.S. dollars and U.S. GAAP).

    Revenue for the first quarter of fiscal 2007 was $613.1 million, up 9.2% from $561.2 million in the previous quarter and up 35.1% from $453.9 million in the same quarter of last year. The revenue breakdown for the quarter was approximately 71% for handhelds, 19% for service, 7% for software and 3% for other revenue. During the quarter, RIM shipped 1.2 million devices.

    The total number of BlackBerry subscriber accounts in the quarter increased by approximately 680,000, in-line with the forecast provided in RIM's press release on Q4 results, to approximately 5.5 million total subscriber accounts. - Read More

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    Re: Just in: Research In Motion Reports First Quarter Results

    "RIM delivered a solid quarter with strong revenue, earnings and subscriber results," said Jim Balsillie, Chairman and Co-CEO at RIM. "BlackBerry's ongoing competitive dominance is driving strong growth in existing markets and fuelling substantial international expansion."

    GAAP net income for the quarter was $129.8 million, or $0.68 per share diluted, as compared with net income of $18.4 million, or $0.10 per share diluted, in the prior quarter. Operating expenses increased inline with our expectations as RIM continued to invest in new product development and international market expansion. Adjusted net income excluding stock option expense was $134.2 million, or $0.70 per share diluted.

    The adjusted net income and earnings per share do not have any standardized meaning prescribed by GAAP and therefore are unlikely to be comparable to similar measures presented by other issuers. These adjusted measures should be considered in the context of RIM's GAAP results.

    Revenue for the second quarter of fiscal 2007 ending September 2, 2006 is expected to be in the range of $620-$650 million. Subscriber account additions in the second quarter are expected to be in the range of 675,000-700,000. GAAP earnings per share for the second quarter are expected to be in the range of 67-73 cents per share diluted. Adjusted earnings per share for the second quarter, which excludes estimated stock option expense of between $4.0 -$5.0 million, are forecast to be in the range of 69-75 cents per share diluted.

    The total of cash, cash equivalents, short-term and long-term investments was $1.26 billion as at June 3, 2006, compared to $1.25 billion at the end of the previous quarter, an increase of $6.5 million over the prior quarter. Uses of cash in the quarter included the acquisition of Ascendent Systems.

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    Re: Just in: Research In Motion Reports First Quarter Results

    RIM will be reporting results for the first quarter of fiscal 2007 on June 29, 2006 after the close of the market. A conference call and live webcast will be held beginning at 5 pm ET, which can be accessed by dialing 416-640-1907 or by logging on at www.rim.com/investors/events/index.shtml. A replay of the conference call will also be available at approximately 7 pm by dialing 416-640-1917 and entering passcode 21193373#.

    This replay will be available until midnight ET July 13, 2006.

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    Re: Just in: Research In Motion Reports First Quarter Results

    ~via BB (wap.pinstack.com)~
    That's a lot of money!

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    Re: Just in: Research In Motion Reports First Quarter Results

    and a lot of BlackBerries! Just imagine if the 5.5 million subscribers were all on this forum!

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    Re: Just in: Research In Motion Reports First Quarter Results

    Anyone else listening to this webcast right now?

    I especially like how they responded to the question "Is the Motorola Q hurting your business".

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    Re: Just in: Research In Motion Reports First Quarter Results

    N8 what did they say about the Q?
    SP[B]
    Sportin a kBerry Curve

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    Re: Just in: Research In Motion Reports First Quarter Results

    ~via BB (wap.pinstack.com)~Ive said it before and I'll say it again. Now is a good time to buy RIM staock options. I see it going up in the near future.

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