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Research In Motion (RIMM) posted revenue for its fiscal first quarter ended May 30 of $3.42 billion, in line with the Street consensus at $3.41 billion. Adjusted EPS if 98 cents a share was ahead of the Street at 94 cents. The company sold 7.8 million devices in the quarter, and added 3.8 million net new subscribers. Gross margin was 43.6%, up from 40% in the February quarter, but down from 50.7% a year ago. Revenues were down slightly on a sequential basis, but up 52.7% from a year earlier.

For the August quarter, the company sees revenue of $3.45 billion to $3.7 billion, gross margin of 43%-44%, net subscriber adds of 3.8 million to 4.1 million and EPS of 94 cents to $1.01. The Street has been expecting revenue of $3.59 billion and profits of 97 cents a share.

On a conference call with investors Thursday afternoon about May quarter earnings, Research In Motion CEO Jim Balsillie said the company expects to ship between 8.1 million and 8.7 million smart phones in the August quarter, up from 7.8 million in the quarter reported Thursday.

On the call, the company said ASP in the August quarter is expected to be $345, lower than the first quarter due to mix. Operating expenses are expected to be 7%-9% higher than in Q1, with R&D up 8%-9% and sales, marketing and administration expense up 6-8%.

A few other items from the call:

  • Balsillie said close to 15 million social networking apps have been downloaded to date from the company’s App World software store. He did not give any data in his presentation on total downloads from the store.
  • Asked during the Q&A session on the call about the Palm Pre and the new Apple (NASDAQ:AAPL) phones, Balsillie noted that there have been lots offers from carriers to sell the BlackBerry at $49, $99 and in some cases free. He says they are “pretty focused on doing what we have to do.” Balsillie played down the $99 price point on the 8 GB iPhone as a temporary measure for an end-of-life phone. He characterized RIMM’s launch road map for the next 12-15 months as “spectacular.”
  • Balsillie noted that 80% of the net new adds in the May quarter were from the consumer side of the business, which one analyst on the call said implied a fairly steep sequential decline in net new enterprise subs.

RIMM closed down Thursday66 cents, or .9%, to $76.55.

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