wall streetThe Toronto Globe and Mail is reporting today that despite a quarter billion dollar earnings misstatement, Research In Motion will close out their year end with “blow-out” numbers.

While investigators in the US and Canada are set to concluded their reviews of the earnings misstatements made earlier in the year by RIM accountants where the company was forced to restate more than $250 million in earnings, it seems unlikely that the results of those investigations will have a significant impact on company profits.

In fact, with a million new subscribers in the fourth quarter that ended at the end of March, RIM is claiming more than eight million BlackBerry users worldwide. Once news of that huge surge in numbers leaked out, Wall Street analysts began rating the Waterloo-based company’ stocks higher. Last week, RIM’s stocks went up six percent and closed the week on the NASDAQ at $145.77. That is still two dollars short of its record high, but certainly within striking distance.

Valued at $27 billion, The Globe nicely points out that RIM is now worth more than each of its Canadian carriers -- BCE, Rogers and Telus.

Sales of both the Pearl and the 8800 have exceeded the company's expectations and have contributed to the company’s growth spurt in the last three months.

Further good news for RIM is found in a survey conducted by investment firm Goldman Sachs, which reported that while less than half a percent of respondents said they owned a BlackBerry, fully 11 percent said they wanted to get one. Even if that is wildly overstated, those numbers have to look good to the guys in Waterloo.

Research In Motion is expected to launch two new models in the next couple of months – the Cyclone and the Daytona – and success of those models should help push RIM stocks even higher.

The Globe story does suggest that more than a few analysts are “neutral” on RIM’s chances for stock price growth however, pointing to the company's high marketing budget and a fear that the new models will merely replace sales that would have gone to the Pearl and 8800.