EmailResearch in Motion (RIMM $22.80 -6.74) reported second quarter
earnings of $0.80 per share, excluding non-recurring items, $0.09 worse than the
Capital IQ Consensus Estimate of $0.89.
Revenues fell 9.8% year/year to $4.17 billion versus the $4.48 billion
consensus.
RIMM reports second quarter gross margins were 38.7%; Guidance was 39%. RIMM
ships 10.6 million handheld devices in the second quarter; range of expectations
was 11.0 million to 12.5 million units. RIMM ships 200K Playbooks in the second
quarter; shipped ~500K in the first quarter.
For the third quarter, the company expects to see earnings of $1.20 to 1.40
versus the $1.38 Capital IQ Consensus Estimate; sees revenues of $5.3 billion to
$5.6 billion versus the $5.27 billion Capital IQ Consensus Estimate.
Gross margin percentage for the third quarter is expected to be ~37%. BlackBerry
smartphone shipments are expected to be between 13.5 million to 14.5 million
units. The company sees guidance at low end for fiscal year 2012, sees EPS at
low end of $5.25 to $6.00 versus the $5.06 Capital IQ Consensus Estimate. The
revenue breakdown for the quarter was ~73% for hardware, 24% for service, and 3%
for software and other revenue.
than one year.
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