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September 17, 2010

RIM Q2 revenue up 31% to $4.62bn

Over 12 million devices shipped in the quarter

By CBR Staff Writer

Research In Motion has reported revenue of $4.62bn for the second quarter of fiscal 2011, up 31% from $3.53bn for the same period last year. Revenue was up 9% sequentially.

The company received approximately 79% of its revenue by selling devices, 17% from service, 1% from software and 3% from others.

It shipped over 12 million devices in the quarter and now has a subscriber base of over 50 million.

It added approximately 4.5 million net new BlackBerry subscriber accounts during the quarter.

The Waterloo, Ontario-based company posted an operating income of $1.08bn, compared to an operating income of $652m.

Gross margin was $2.06bn as compared to $1.55bn for the same period last year.

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Net income was $796.7m, or $1.46 per share diluted, as compared to $475.6m, or $0.83 per share diluted for the second quarter ended 28 August 2010.

Looking ahead, the company expects revenue for the third quarter of fiscal 2011 ending 27 November 2010, to be in the range of $5.30bn to $5.55bn and earnings per share to be in the range of $1.62-$1.70 per share diluted.

Gross margin for Q3 is expected to be around 42% and net subscriber account additions to be in the range of 5.0-5.4 million.

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