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Press Release: Research In Motion Reports 4th Quarter and Year End Results for Fiscal 2011

By Kevin Michaluk on 24 Mar 2011 04:24 pm EDT
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Research In Motion

Here's the press and release and numbers we've been waiting for. You can read the full press release below to get a look at RIM's 4th Quarter and 2011 Year End Fiscal results (I know, I know, it's weird they're working so far into the future and not on the calendar year). We'll report back with more analysis once we read through it and see what the after hours trading does.

Press Release

Research In Motion Reports Year-End and Fourth Quarter Results for Fiscal 2011

WATERLOO, ONTARIO--(Marketwire - March 24, 2011) - Research In Motion Limited (RIM) (NASDAQ:RIMM)(TSX:RIM), a world leader in the mobile communications market, today reported fourth quarter results for the three months and fiscal year ended February 26, 2011 (all figures in U.S. dollars and U.S. GAAP).

Highlights:

  • Record BlackBerry® smartphone shipments of 52.3 million grew 43% over fiscal 2010
  • Fiscal 2011 revenue grew 33% over fiscal 2010 to $19.9 billion and earnings per share grew 47% over the prior fiscal year to $6.34 per share diluted
  • Ongoing investment in PlayBook and QNX-based platform development in Q1 with PlayBook launch date of April 19th
  • BlackBerry was the number one selling smartphone brand in the United States1, Canada1, Latin America1 and the UK2 for calendar 2010

Q4 and Fiscal 2011 Results: Revenue for the fiscal year ended February 26, 2011 was $19.9 billion, up 33% from $15 billion last year. Revenue for the fourth quarter of fiscal 2011 was $5.6 billion, up 1% from $5.5 billion in the previous quarter and up 36% from $4.1 billion in the same quarter of last year. The revenue breakdown for the quarter was approximately 81% for devices, 16% for service, and 3% for software and other revenue. During the quarter, RIM shipped approximately 14.9 million BlackBerry smartphones for a total of 52.3 million smartphones in fiscal 2011.

"We are pleased to report record shipments and financial performance in fiscal 2011," said Jim Balsillie, Co-CEO at Research In Motion. "As we enter fiscal 2012, RIM is in an excellent position to benefit from the continuing convergence of the mobile communications and mobile computing markets. We are laying a strong foundation for RIM's expanding market opportunity through focused investments and we are extremely excited about our smartphone, tablet and platform roadmaps."

Net income for fiscal 2011 was $3.4 billion, or $6.34 per share diluted, up 47% over fiscal 2010. The Company's net income for the quarter was $934 million, or $1.78 per share diluted, compared with net income of $911 million, or $1.74 per share diluted, in the prior quarter and net income of $710 million, or $1.27 per share diluted, in the same quarter last year.

The total of cash, cash equivalents, short-term and long-term investments was $2.7 billion as of February 26, 2011, compared to $2.5 billion at the end of the previous quarter, an increase of $227 million from the prior quarter. Cash flow from operations in Q4 was approximately $1.0 billion. Uses of cash included intangible asset additions of approximately $365 million, capital expenditures of approximately $304 million and business acquisitions of approximately $161 million.

FY2012 and Q1 Outlook: For the full year fiscal 2012, RIM expects earnings per share to be in excess of $7.50 fully diluted. Revenue for the first quarter of fiscal 2012 ending May 28, 2011 is expected to be in the range of $5.2-$5.6 billion. Gross margin percentage for the first quarter is expected to be approximately 41.5%. Earnings per share for the first quarter are expected to be in the range of $1.47 -$1.55 per share diluted. This guidance range reflects a mix shift in handset towards lower ASP products in the first quarter and an increased level of investment in Research and Development and Sales and Marketing related to our tablet and platform initiatives. The guidance range is slightly wider than normal to reflect the risk of potential disruption in RIM's supply chain as a result of the recent earthquake in Japan.

Conference Call and Webcast: A conference call and live webcast will be held beginning at 5 pm ET, March 24, 2011, which can be accessed by dialing 1-800-814-4859 (North America), 416-644-3414 (outside North America). The replay of the company's Q4 conference call can be accessed after 7 pm ET, March 24, 2011 until midnight ET, April 7, 2011. It can be accessed by dialing 416-640-1917 and entering passcode 4310316#. The conference call will also appear on the RIM website live at 5 pm ET and will be archived at http://www.rim.com/investors/events/index.shtml.

For full financial charts, view the press release on Marketwire

Reader comments

Press Release: Research In Motion Reports 4th Quarter and Year End Results for Fiscal 2011

43 Comments

BEAST!!! BTW to all you iphone and Android people.......yeah we are number One!!! and yeah FIRST COMMENT!

you are so funny and stupid at the same time.. blackberry is a dinosaur. blackberry will be always behind droid or iphone.

that is a fact jack...!

Talk about funny and stupid. Funny that trolls like this use their time to log on to CrackBerry, scour the posts, then make pointless comments. Stupid if they think anyone cares about what they think. Here is a fact jack... Blackberry users are not a club. They have the same choices you do in selecting a smartphone. They, myself included chose the Blackberry because it suits them. All you evangelical rants dont change that fact. It seems that instead of choosing a Blackberry, you decided that a Droid AND an Iphone would meet your needs. Other than your need to scour CrackBerry for the latest news about Blackberry devices. Funny and stupid,yup, thats you.

NUMBER ONE, but in the third world countries, just because the bbm (know it as a PIN, in colombia, peru, venezuela, etc). and the plans are really cheap. and off course their networks down there are really suck.. the only thing that work is blackberry.. shame..

Yep. Shame that the other smartphone mfgs can't step up to the plate and deliver a solution that works world-wide the way a BB can.

Couldn't resist.

"and off course their networks down there are really suck.."

"Are really suck" Really...Really... This is how you troll with great wording.

Big smile on my face after selling RIM short yesterday. Huge profit today.

This is the start of the downward spiral. iPad and iPhone will rule.

Thank you. Now RIM is so cheap, that i will buy today. Be happy with the i-devices and the brainslug.

Too bad investors don't feel the same way. ASP keeps going down each QTR and that's not exactly pleasing investors, reflected in the stock down 8-9 percent...ouch. For next QTR, guidance isn't great either and it's quite low compared to this QTR and what investors were hoping for. RIM just can't catch a break...

Their guidance is low because they don't know the extent of supply chain problems from Japan. RIM's at a disadvantage compared to companies that report next month when the situation will be much clearer.

They gave a full year guidance to reflect this and show they have a lot of confidence going forward. $7.50 a share is far above what analysts were predicting.

btw, al those number are because all the sell in the third world countries, Like Venezuela, where the think blackberry is better than anything else.. (they don't know that there is another brands or smartphones better that these junkberries.) and they consider blackberry as a god of the smartphones... i feel bad for this people....!

Here in USA, i don't see many of them, just walk in a mall, and you will see 7 of 10 people with iphones, 2 with droids, and 1 with whatever (include blackberry as whatever).

No offense..

Wow, that is so far from true it's not even funny. Maybe it's because I live in a well off area near NYC, but there are without a doubt more BlackBerry users here than Android and iPhone users.

If I walk into a mall, for every 10 people, I see about 5 or 6 BlackBerrys, easily.

you are a liar boy, just compare this number with droid and iphone and you will see.... and remember iphone is only one with 2 carriers blackberry are to many with to many carriers. same as a droid...

iPhone is fighting against to many at the same time, and still giving a good numbers on sale.. sorry but is a fact..

Since when was the mobile industry not global? If iPhone can't keep up with the "Global" market which you are insinuating...they are gonna be in deep trouble. I think your retina display has burned most of your brain cells.

tonusso

"BlackBerry was the number one selling smartphone brand in the United States1, Canada1, Latin America1 and the UK2 for calendar 2010"

It would be better if you read the whole article, before spouting utter garbage, and making a fool of yourself.

From your reasoning, USA, Canada, Latin America and the UK are third world countries?....Your ignorance reeks!!!

You sound like you're from a third world country....seriously

No offense...

Here's a tip for you; ACTUALLY READ THE ARTICLE..#1 in US, Canada, Latin America...#2 in the UK...

Maybe try spell check...or a grammer check application before you send too. It always makes me shake my head when I read a post from someone like you...

WHO THE HELL CARES ! Are people from THIRD world countries etc any less CUSTOMERS than the ones found in the US. ? you people ridiculously stupid in the way that you think.

Wow, after hours stock has already dropped more than 9%. This is surprising considering these numbers are really good and the PB is about to be released. I might have to buy RIMM tomorrow morning.

Their guidance was lower than anticipated for the next quarter. Anyway, last quarter they blew away the numbers and guidance and it was also down after initially going higher.

You know every day stocks go up and down..... Amazing on how many people Micro Manage companies.

You should check out Coal and Gas companies. They are up and down as well...........

It's great to see how a company that doesn't exaggerate or brags too much about their products, doesn't acts like a cult, still is number one.

Efficiency and no nonsense productivity Blackberry All the Way!

The stock is taking a beating in AM trading... ah the news isn't that great considering RIM missed it's 5.64b in revenue goal, average sale per device dropped, and rim is going to focus on cheaper devices for the future...
As a shareholder this stock is a sinking ship

This is just bogus PR. The street absolutely slammed rimm. Not looking good for us. And supply chain issues because of Japan? The phone doesn't even contain a single component manufactured in japan.

I'm laughing during this concall right now

5:29 Why would people buy BB 6.1 devices and not just wait for QNX? QNX will take a while. Demand for 6.1 is "like, amazing."

LOL

Search these forums and see how many people care about 6.1

and this is a biggest BB site.

How can RIMM go to CTIA and have nothing new or innovate to share?

I think you're right. Nobody really gives a rat's about 6.1 software. We care about 6.1 hardware though, and we will buy that hardware in the millions even though the software is largely unchanged.

The selling your seeing is everyone taking the profits from earlier buying this morning on the market open.

For those saying your device's don't contain a "single component" made in Japan? While your battery is -finished- in China, the raw materials and first manufacturing stage in done in Japan, as is the manufacturing of a lot of the RAM modules, and some of the LCDs, such as the one's used in the Torch.

I'm not being a RIM fanboy here, I'm just trying to make this a level comment field.

Well the news that Android Apps will be available on the Playbook opens up another whole world with APPS for blackberry. I think its a great move. BUT this isn't the reason why people love BB, its the BB experience and connection you have using a BB. The future devices are just going to catapult BB ahead once again you'll see. Personally..I can't wait for the Monaco (aka STORM 3) i still use the original STORM 9500 with Surepress and love it!

Does this mean developers will need to still write 2 apps, one for native android devices and one for the PB or is it just one app that works in all devices?

Wow this is so not true. Watch CNN or MSNBC or read the stock section in your local paper, RIM stock is dropping because they are not keeping up with the iphone and android market. I still own a storm 2 and love my phone however, RIM has got to get on the ball, soon.

just because the stock is dropping right now doesn't say anything about the facts of their earnings.. these are the hard numbers so I don't see how you can say this is not true.

stocks are based on market feelings, and i'm feeling it's a great time to buy RIM stock... why? because people can say what they want but these numbers show they aren't going away at all. everyone knows the top 3 options are iPhone, Blackberry or Android, WinMo phones are a joke...

Enough already with the "Third World Countries" remarks! You talk like we go for Blackberry because we're too dumb to know better, or because we can't afford what you deem to be better devices, but on the contrary, we know a good thing when we see it whatever the cost. We're just as discerning as the rest of the world when it comes to value for our money