Earnings: RIM Reports Bad Q4 Results, Worst Quarter In Years
Reporting quarterly earning for any CEO is a tough job, your every word and mannerisms are scrutinized by the world, and there isn’t much you can do about it. Thorsten Heins, RIM’s CEO had the task of telling the world just how bad things are at Research In Motion yesterday as the company had its worst quarter in years. RIM also said that it would no longer issue financial forecasts.
- Jim Balsillie resigned from RIM board, Chief technology officer David Yacht also will be stepping down from his position
- Shipments of Blackberry smartphones in the quarter fell to 11.1 million, down 21% from the previous three-month period
- Revenue for the fourth quarter of fiscal 2012 was $4.2 billion, down 19% from $5.2 billion in the previous quarter and down 25% from $5.6 billion in the same quarter of fiscal 2011
- The revenue breakdown for the quarter was approximately 68% for hardware, 27% for service and 5% for software and other revenue
- During the quarter, RIM shipped approximately 11.1 million BlackBerry smartphones and over 500,000 BlackBerry PlayBook tablets
Heins did share that the company will be looking at key strategic initiatives, but it might be too little too late for the Waterloo-based technology company.
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