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January 4, 2004

BlackBerry demand sends RIM shares soaring

A rash of new BlackBerry launches by mobile operators ensured that Research in Motion Ltd topped the estimates of Wall Street analysts in the third quarter and its shares climbed 30.9% to $60.38 on the news.

By CBR Staff Writer

In its third quarter to November 29, net income was $16.3m, up from a loss of $92.8m on revenue 107% higher at $153.9m. This enormous growth rate shows no sign of slowing. The Waterloo, Ontario company expects revenue in the fourth quarter to grow at least 122% to a range of $195m to $210m while it anticipates that in the first quarter of the new year revenue will show growth of 11% to $220m to $240m.

On this basis, revenue could hit the $1bn mark in its 2005 financial year, with no shortage of companies hammering on its doors seeking licensing deals.

The latest agreement is with Sony Ericsson, which has signed a licensing deal that allows it to connect its handsets with BlackBerry Enterprise services and web client services.

This article is based on material originally produced by ComputerWire.

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