Bad Economy? Not If You Ask RIM!

on 4 Apr 2009 11:19 AM

With the world concentrated on the state of the economy, RIM has released their 2009 and 4th Quarter Financial Reports which surprised even those within RIM as profits exceeded those expected.

Revenue for the fourth quarter of fiscal 2009 was $3.46 billion, up 24.5% from $2.78 billion in the previous quarter and up 84% from $1.88 billion in the same quarter of last year.

The revenue breakdown for the quarter was approximately 83% for devices, 12% for service, 2% for software and 3% for other revenue. Revenue for the fiscal year ended February 28, 2009 was $11.07 billion, up 84% from $6.01 billion last year.

RIM shipped approximately 7.8 million devices in the fourth quarter and approximately 26 million devices during fiscal 2009.

With $11 Billion in revenue, over 50 million BlackBerry devices shipped and revenues only expected to increase, I'd say RIM is doing something right.

Read The Full Press Release On The Fiscal Reports Direct From RIM >>

Filed Under: News & Rumors;

27 Comments

Posted by Rizzy09 Saturday, Apr 04, 2009 1138 days ago

Impressive. Especially with the Niagara 9630 on the horizon coming out for Verizon, the crappy looking Gemini 8520, a 8900 curve for at&t and a codenamed: Pluto or magnum (touch screen bold)a Verizon exclusive, an answer to Sprints Pre on the horizon.. Stocks keep rising for those Damn Canadians, jeje.
Verizon's getting the next Blackberry 99XX Series.. Read the link below:

http://www.cnbc.com/id/30013378

Posted by Anonymous11 Sunday, Apr 05, 2009 1137 days ago

you've spurted out a random list of rumors, no info. How does that support your argument. Of course RIM is working on next gen devices. However, the next device is likely to be the new Pearl, none of this 99XX, Magnum, Pluto stuff.

Posted by daggus Saturday, Apr 04, 2009 1138 days ago

No wonder the top Executives are so imperial when it comes to responding to customer needs - am one of those with lots of bile about the 'rough cut' OS on the Storm.
Despite all the hues and cries (including outright pleadings), RIM has not considered it necessary to dignify us with some sort of direct response despite all the GREAT opportunities like the recent CITA where the President gave a keynote address !!
History is replete with stories of companies who thought they were better than their customers - and/or those that felt they didn't need the customers to sustain their performance

Posted by Underwhelmed Sunday, Apr 05, 2009 1137 days ago

No kidding. Of course, weren't they fined big time for fudging these reports before? lolz.

And this proves that they don't give a **** about their devices in general, so long as they can time their sales peaks to make earnings look good... it all works out = for THEM.

I'm about to say good riddance to RIM. Why? Email is available everywhere, and the only thing that I seem to be paying $360/year for is... BBM and random reboots? Wow... call me underwhelmed.

Posted by shanshor Saturday, Apr 04, 2009 1138 days ago

Good, maybe RIM will be more devote to Storm's bug fixes

Posted by urbanjeff Sunday, Apr 05, 2009 1137 days ago

RIM should take some of that CHEDDER they're making and get us storm owners an OS UPDATE!!! Now thats not asking for too much..........................................

Posted by urbanjeff Sunday, Apr 05, 2009 1137 days ago

RIM should take some of that CHEDDER they're making and get us storm owners an OS UPDATE!!! Now thats not asking for too much..........................................

Posted by urbanjeff Sunday, Apr 05, 2009 1137 days ago

RIM should take some of that CHEDDER they're making and get us storm owners an OS UPDATE!!! Now thats not asking for too much..........................................

Posted by sghere Saturday, Apr 04, 2009 1138 days ago

With that much in revenue, you'd think they could produce the Storm with Wireless and a boot time of UNDER 1 minute. Maybe since they are a Canadian company, things move slower there. ;)

JUST KIDDING!!!

-S

Posted by porkweasel Saturday, Apr 04, 2009 1138 days ago

With all this revenue maybe they can devote some resources to fixing the Storm...someday...finally. The Storm is my first Blackberry, and if the poor turn around time for a stable OS for the Storm is any indication of how RIM is going to treat consumers going forward, it will be my last. Unfortunate to say...but true...

Posted by Bla1ze Saturday, Apr 04, 2009 1138 days ago

Why does everyone feel as though an OS is going to fix the Storm?

Comment after comment all I hear is "Maybe if they gave us a working OS.."

"Maybe they should devote some resources to the development of a new OS.."

A new OS will not fix the Storm, make it slightly better, sure..but improve the device as a whole. It won't happen.

Posted by npunk42 Saturday, Apr 04, 2009 1138 days ago

At least this was one of Cramers picks that panned out.

Posted by papped Saturday, Apr 04, 2009 1138 days ago

Go Go RIMM stock

Posted by YouPeopleMakeMeSick Saturday, Apr 04, 2009 1138 days ago

Maybe the reason they are doing so well had to do with what I read in every new hardware phone; people are getting 2, 3, or 4 phones just to have a different "Berry experience"... probably all while going deeper into debt and neglecting their families.

Posted by papped Saturday, Apr 04, 2009 1138 days ago

Sweet, I hope they keep doing that. It helps my stock.

Posted by Golden Girls? Sunday, Apr 05, 2009 1137 days ago

Yea, maybe that quarter of a billion dollar earnings restatement they had to do after they cooked the stock options books last time just gave them a blueprint to deceive better....

Keep dreaming that RIM is your ticket to the golden years... *sound of a plane crash*

Time to buy gold? Ha ha.

Posted by CarBob Saturday, Apr 04, 2009 1137 days ago

Hey Bla1ze,

I'm inclined to agree with you. RIM is definitely doing something right!! My spouse, who is a Chartered Accountant,
referred to these results as "A HOME RUN."

Not bad for a Canadian company, eh?

- CB

Posted by axela Sunday, Apr 05, 2009 1137 days ago

the amount of money RIM has is insane...... i work for a company that does the snow removal/summer landscaping at RIM and its just amazing on how much money they spend to make their buildings operate, and look good....

Posted by Anony Sunday, Apr 05, 2009 1137 days ago

Pity they don't spend some of that moola on developing and launching devices that are functional from the get go, in stead of five months later after 15 OS updates.

Posted by Kuy Tev Sunday, Apr 05, 2009 1137 days ago

At least some companies are doing well these days :P

Posted by kneeman Sunday, Apr 05, 2009 1137 days ago

Uh, wrong year isn't it? Should be 4th quarter 2008.

Posted by RandomGuy2009 Sunday, Apr 05, 2009 1137 days ago

RIM should really update their branding logo. It makes RIM look antiquated. Verizon Wireless ALSO needs this branding makeover.

Posted by unseenme Sunday, Apr 05, 2009 1136 days ago

I'm guna go on the defense here for RIM...for the last 10 years i've been solely dependent on my cell phone (i havent had a home phone in 10 years) so having a phone that is that first...a phone...is the most important thing to me. I just recently got my first 'Berry after many years of 'oohing and aahing' over my friends' JUST because it was a BlackBerry, not having a clue as to what all it could do. After researching and reading up on 'em, I decided to upgrade to one, and i couldn be happier. Now, i have the Storm, and yes I agree it has bugs, but it is what I need it to be first...a PHONE. Having the access to internet, email, all the cool apps for it, and the whole touchscreen thing are all bonuses of having this smartphone, PDA, whatever you wanna call it. I dont own a business, I dont sell on ebay for side money, im just a normal working american. I CHOSE to get a 'Berry over a standard phone. I CHOSE to have access to my email, internet, blah blah on my PHONE. I CHOSE to have all the extras. the first iPhone was a bomb. Many people I know had to return theirs to get a whole new phone, rather than upgrade buggy software. Every piece of electronic equipment i've ever had (and its been ALOT) has had bugs or problems. its the nature of the products. how many times have you heard someone say 'I just bought this car and its already having problems'? These things are mass produced just like everything else and its virtually impossible to test EVERY possible option on anything before it hits shelves. Come on guys, be realistic here. Everything, from laundry detergent to rocket ships have 'new and improved' versions, or 'now more (whatever) than ever' versions. I bet the first time you hit a golf ball, or drove a car, you werent perfect at it. Don't expect perfection on a 'first' of anything. Everything is a learning process. I'm glad to see RIM climbing in sales in a crappy economy, and NO I don't own RIM stock. I love my Storm, I love the technology in it and I love the way it looks and I'm sticking it out with it waiting on the software upgrade. It may never be perfect, but I love it, and it's STILL what I need it to be first...A PHONE.

Posted by papped Monday, Apr 06, 2009 1136 days ago

There's nothing to defend really anyways. They're doing a lot right. They're making money, their data compression and network is amazing, not to mention security, etc...

Posted by ozmanzia Monday, Apr 06, 2009 1136 days ago

What about Android. RIM still has a threat the same way it is to Nokia or iphone is to others.

Posted by shanek83 Monday, Apr 06, 2009 1136 days ago

and they still can't get gmail right

Posted by The.Godfather Monday, Apr 06, 2009 1136 days ago

Thanks RIM for making me a ton of loot this past quarter. Appreciate it truly.