Friday, June 29, 2012

RIM


Sorry to say, but I can't see any chance for RIM at this moment. Snippets from the latest results say it all, but the bit in bold is the killer-

"Revenue for the first quarter of fiscal 2013 was $2.8  billion, down 33% from $4.2 billion in the previous quarter and down 43% from $4.9 billion in the same quarter of fiscal 2012."

"GAAP net loss for the quarter was $518 million, or $0.99 per share diluted, compared with a GAAP net loss of $125 million, or $0.24 per share diluted, in the prior quarter and GAAP net income of $695 million, or $1.33 per share diluted, in the same quarter last year."

"The successful launch of the BlackBerry 10 platform and the delivery of high quality, full-featured BlackBerry 10 smartphones remain the Company’s number one priority.  Over the past several weeks, RIM’s software development teams have made major progress in the  development of key features for the BlackBerry 10 platform;  however, the integration of these features and the associated large volume of code into the platform has proven to be more time consuming than anticipated.  As a result, the Company now expects to launch the first BlackBerry 10 smartphones in market in Q1 of calendar 2013."

source

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