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Research In Motion (RIMM): FQ4 EPS of $0.80 misses by $0.01. Revenue of $4.19B (-25% Y/Y) misses...

Research In Motion (RIMM): FQ4 EPS of $0.80 misses by $0.01. Revenue of $4.19B (-25% Y/Y) misses by $350M. 11.1M BlackBerry shipments, below expectations of 11.8M. Company is discontinuing "providing specific quantitative guidance." Former chairman/co-CEO Jim Balsillie has resigned from the company's board, CTO David Yach and COO Jim Rowan also leaving. Shares halted. (PR)
Comments (22)
  • Financial Insights
    , contributor
    Comments (945) | Send Message
     
    Lazaridis needs to go too, but Balsille is a start.
    29 Mar 2012, 04:51 PM Reply Like
  • Stone Fox Capital
    , contributor
    Comments (5788) | Send Message
     
    even the rats are abandoning the ship. lol
    29 Mar 2012, 04:51 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    I hope they release the overall user numbers, so we can get an idea of how many of the 11,1million shipped are replacements, and how many are new to the platform. The November 2011 figure was 75million users.
    29 Mar 2012, 04:55 PM Reply Like
  • Gene Chan, CFA
    , contributor
    Comments (210) | Send Message
     
    They said 77+ million
    29 Mar 2012, 05:16 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    Thanks.
    29 Mar 2012, 05:23 PM Reply Like
  • JM1964
    , contributor
    Comments (30) | Send Message
     
    GOOD REPORT considering a new operating system is due out later this year.
    29 Mar 2012, 04:59 PM Reply Like
  • BadCop_NoDonuts
    , contributor
    Comments (482) | Send Message
     
    SLEBB, is that you?
    29 Mar 2012, 05:01 PM Reply Like
  • crimsonbey
    , contributor
    Comments (474) | Send Message
     
    Wow, they really did hit an iceberg it seems.
    29 Mar 2012, 05:00 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    How much of the "impairment charge" was golden parachutes?
    29 Mar 2012, 05:07 PM Reply Like
  • scott trader
    , contributor
    Comments (4529) | Send Message
     
    the nightmare doesn't end here.....
    29 Mar 2012, 05:08 PM Reply Like
  • tiger8896
    , contributor
    Comments (577) | Send Message
     
    Some key people leaving. I hope they have enough talent left to finish the BB10 phones.

     

    I thought the report wasn't bad considering all the negative analyst comments ahead of earnings, might be a trade here on Rimm with limited upside to maybe $18-20.
    29 Mar 2012, 05:58 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    Quick move down in after-hours followed by move up slightly down from closing level. Conference call was very interesting. This CEO is at times blunt, but seems like he finally really gets it. Now he needs to deliver.
    29 Mar 2012, 06:04 PM Reply Like
  • dsr70
    , contributor
    Comments (1407) | Send Message
     
    CEO indicated they'll consider selling themselves. Finally a ray of light, 18 months late, but that'll work.
    29 Mar 2012, 06:12 PM Reply Like
  • kmi
    , contributor
    Comments (3983) | Send Message
     
    Every core business including those Qnx used to dominate are under pressure by Android, iOS, and a changing technological reality.

     

    It's a tough time to be a RIM fan, and I write this comment on my Playbook.
    29 Mar 2012, 07:02 PM Reply Like
  • surefire
    , contributor
    Comments (10) | Send Message
     
    RIM selling itself? That would mean that it's patents provide value that competitors would want to buy. Seems like RIM's competitors are doing just fine without all those seemingly valuable patents. At my last engineering conference, in a room of 40 engineering managers, two had blackberry devices and one of them was the boss of the other and order the other to get it. Let's call it what it is.
    29 Mar 2012, 07:21 PM Reply Like
  • dsr70
    , contributor
    Comments (1407) | Send Message
     
    I did a rough analysis of RIMM's patents last year, as collateral in the bankruptcy Mike and Jim were driving them to. IIRC, I came to a share floor price of $3 or $4. This based on Goog's acquisition of MMI, the rates the Nortel patents fetched, and other info. Then discounted for the late cycle of RIMM's patents. They are weak in IP, plain and simple.

     

    Can't believe I sounded like a RIMM backer. No. In my opinion, the company is doomed, BB10 will flop, and I wouldn't put a dime in it above the collateral floor.
    29 Mar 2012, 08:30 PM Reply Like
  • bdy
    , contributor
    Comments (150) | Send Message
     
    I traded the following before earnings:
    Bought 50 DEC $14/15 Call spread
    Sold 50 MAR31 $14/15 Call spread
    Net debit of .6 cents because IV is crazy 235% vs 67% for December.
    Based on Risk chart:
    Break even is at 14.50
    Max loss is 2200 at 15.00
    Max profit is 2500 at 13.99
    If the stock doesn't rebound on such good news of those slumpy execs leaving before open tomorrow the trade should be good.
    Of course I could just hold the Dec Bull call spread and wait for some kinda miracle in which case I could gain 5000 on 350 entry price. Or wait for IV spike on next earnings and sell. Any suggestions?
    29 Mar 2012, 07:22 PM Reply Like
  • surefire
    , contributor
    Comments (10) | Send Message
     
    The conference call basically went like this.

     

    Life sucks for us, and it's getting worse. We gotta do something about it. I don't know what it is. I'm no longer giving you financial guidance. Please buy our stock.
    29 Mar 2012, 07:26 PM Reply Like
  • bdy
    , contributor
    Comments (150) | Send Message
     
    I didn't listen to the call, did it have circus music in the background? Oh, wait, this isn't SHLD :p
    29 Mar 2012, 07:28 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    The conference call was actually quite different than the previous dog and pony show of the former coCEOs. It should be noted that shares dropped quickly after hours once trading resumed, but when the conference call started shares rebounded. CrackBerry.com has a summary. We can expect the next two quarters to lag, which should be no surprise.
    29 Mar 2012, 07:38 PM Reply Like
  • Rubicon Associates
    , contributor
    Comments (1793) | Send Message
     
    RIMM has proven themselves to be unnecessary and unable to get out of their own way. How many people/businesses are getting blackberries anymore? Maybe on a budget pre-paid plan, but this doesn't create value, just helps dispose of older models.
    30 Mar 2012, 12:04 AM Reply Like
  • greatseal
    , contributor
    Comment (1) | Send Message
     
    Where does the stock open?
    30 Mar 2012, 12:32 AM Reply Like
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