Research In Motion posts robust 2Q earnings growth

10/01/04 - newratings.com

NEW YORK, October 1 (newratings.com) – Research In Motion Limited (RIMM) has raised its full-year earnings guidance, after reporting huge year-over-year earnings growth for the second fiscal quarter, ended August 28 this year.

Research in Motion, the maker of the popular BlackBerry wireless e-mail device, said in a statement late yesterday that the company's 2Q FY05 earnings increased to $70.6 million or $0.36 per share, from $2.15 million or $0.01 per share one year ago. Research In Motion's 2Q FY05 adjusted net income, excluding a patent lawsuit provision in the quarter, was $0.45 per share, which exceeded the consensus earnings forecast of $0.43 per share. The company has raised its 3Q FY05 earnings guidance from $0.45-$0.50 per share to $0.50-$0.55 per share. However, Research in Motion witnessed a decline in its share price in the after-hours trading yesterday, possibly driven by the company's just in-line revenue guidance for the current quarter.