Blackberry maker Research In Motion has posted an increase of 37% in its second quarter revenue to $3.53 billion, compared to $2.58 billion in the same period last year.
The company received approximately 81% of its revenue by selling devices, 14% from service, 2% from software and 3% from others. It shipped about 8.3 million devices in the quarter and now has a subscriber base of approximately 32 million. It added Approximately 3.8 million net new BlackBerry subscriber accounts during the quarter.
The Waterloo, Ontario-based company posted a net income of $475.6m, or $0.83 per share diluted, compared to net income of $495.5m, or $0.86 per share diluted, for the second quarter of 2008. Adjusted net income for the second quarter was $588.4m, or $1.03 per share diluted, reflecting a tax rate of 28.5%. Adjusted net income and adjusted diluted earnings per share exclude the impact of a charge of $112.8m payment to settle patent litigation with Visto corp.
For the three months ended August 29, 2009, the total cash, cash equivalents, short-term and long-term investments were $2.5 billion, while cash flow from operations was approximately $564m which was offset primarily by capital expenditures of approximately $307m and intangible asset purchases of approximately $179m.
Jim Balsillie, co-CEO at Research In Motion, said: We are pleased to report a strong second quarter with excellent financial performance, successful product launches and accelerating growth in international markets and new market segments. RIM is entering the second half of the fiscal year and approaching the holiday buying season with an impressive product portfolio, continuing business momentum and strong marketing support from our partners around the world.
Looking ahead, the company expects revenue for the third quarter of fiscal 2010 to be in the range of $3.6 billion to $3.85 billion and earnings per share to be in the range of $1.00-$1.08 per share diluted. Gross margin for Q3 is expected to be around 43% and net subscriber account additions to be in the range of 4.0-4.3 million.
