Research In Motion Limited (RIM) has reported first quarter results for the three months ended 29 May 2004. The company report shows that revenue for the first quarter of fiscal 2005 was $269.6 million, up 28% from $210.6 million in the previous quarter and up 158% from $104.5 million in the same quarter of last year. The revenue breakdown for the quarter was approximately 68% for handhelds, 19% for service, 9% for software licenses and 4% for other revenue. The total number of BlackBerry subscribers increased by approximately 270,000 from the prior quarter to approximately 1,340,000 subscribers.
"We are pleased to report strong results that exceeded expectations for the first quarter," said Jim Balsillie, Chairman and Co-CEO at RIM. "Our outlook remains positive as we enter the summer with continuing momentum on all strategic fronts including technology leadership, geographic expansion, enterprise and retail channel development, subscriber growth, financial performance and operational execution. Our carrier partners are experiencing significant success in the marketplace and are further expanding sales and marketing efforts to capitalize on the growing interest in BlackBerry."
Net income for the quarter was $55.0 million, or $0.28 per share diluted, compared to net income of $41.5 million or $0.23 per share diluted in the prior quarter. The total of cash, cash equivalents, short-term and long-term investments was $1.55 billion as at 29 May 2004.
Highlights of the first quarter:
RIM signed an agreement with Motorola to license RIM's technology under the BlackBerry Connect licensing program.
Siemens AG announced plans to enable BlackBerry connectivity on Siemens mobile phones.
RIM and PalmSource completed a distribution agreement to make BlackBerry Connect available to Palm OS licensees.
RIM and Good Technology, Inc. signed a settlement and license agreement. RIM received a lump sum settlement and will receive ongoing quarterly royalties.
O2 announced plans to introduce BlackBerry services for the XDA II (Windows Mobile Pocket PC Phone Edition).
T-Mobile International announced plans to offer BlackBerry services for the MDA II, Sony Ericsson P900 and Nokia 6820 to customers in Europe.
RIM introduced the BlackBerry 7750 for CDMA2000 1X wireless networks.
RIM introduced the Plazmic Content Developer's Kit v.3.7 for the BlackBerry wireless platform
RIM previewed the next major release of BlackBerry Enterprise Server (v4.0).
BlackBerry ISV Alliance partners continued to build upon the BlackBerry platform with a range of new products and services that help customers extend their wireless data strategies beyond wireless email.
RIM hosted the third annual Wireless Enterprise Symposium with an impressive line-up of partners and strong customer attendance.
TELUS Mobility launched the BlackBerry 7510 and BlackBerry 7750 handhelds in Canada.
T-Mobile introduced the BlackBerry 7730 in the US and Europe.
Telefonica Moviles Espana introduced BlackBerry Web Client in Spain.
KPN announced plans to offer BlackBerry in the Netherlands, Germany and Belgium.
Vodafone Italy introduced BlackBerry Web Client.
Vodafone Austria announced plans to introduce BlackBerry.
SFR launched BlackBerry Web Client in France.
Orange UK introduced BlackBerry.
Vodafone Hungary introduced BlackBerry.
SingTel announced plans to offer BlackBerry in Singapore as well as the Philippines (via Globe Telecom) and Australia (via Optus).
CSL introduced the BlackBerry 7730 and BlackBerry 7230 in Hong Kong.
Vodafone announced plans to offer BlackBerry in Australia.
Bharti and Research In Motion reached an agreement focused on bringing BlackBerry products and services to India.
RIM's Board of Directors approved a two-for-one stock split of the company's outstanding common shares.
Some highlights subsequent to quarter end:
RIM announced plans to introduce BlackBerry Enterprise Server for Novell GroupWise.
Rogers Wireless launched the BlackBerry 7780 in Canada.
Mobistar, part of the Orange group, announced plans to introduce BlackBerry in Belgium.
Vodafone launched BlackBerry in Sweden.
Vodafone launched BlackBerry in Ireland.
Vodafone announced plans to introduce BlackBerry in New Zealand.