Waterloo, Ontario-based Research In Motion (NASDAQ:RIMM) posted yet another quarterly and continued the process of trying to save itself from extinction by clearing out more of upper management, firing former co-CEO Jim Balsillie from his position as Director, which he’s held since January when Thorsten Heins took the company’s reigns as CEO from Balsillie and Mike Lazaridis.
RIM shipped just 11.1 million Blackberrys in the 4th quarter down 21% from the 3rd quarter. This was only the 2nd time that RIM shipped fewer “Crackberrys” in the 4th sequentially in the company’s history. Hiens said that it was obvious from his time with the company that ‘substantial change is what RIM needs,” and that may include selling the rapidly imploding company.
While selling more than half a million Playbooks, due to heavy discounting, the flagship product for its new OS linking its tablet to the next generation Blackberrys its clear the market prefers both Google’s (NASDAQ:GOOG) Android and Apple’s (NASDAQ:AAPL) iOS.
The numbers for the quarter were as follows:
- A net loss of $125 million, or $0.24 per share
- Net profit before writedowns and goodwill was $418 million ($0.80 per share) vs. $934 million in 2010 ($1.78 per share)
- Top line Revenue slumped from $5.56 billion to $4.19 billion
- Analysts projection were for $0.81 per share on revenues of $4.54 billion.
Shares were off 9% in after-hours trading after closing at $13.69
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