RIM announces first quarter results

Research In Motion Limited today reported first quarter results for the three months ended May 30, 2009.

Revenue for the first quarter of fiscal 2010 was $3.42 billion, comparable with $3.46 billion in the previous quarter and up 53% from $2.24 billion in the same quarter of last year.

The revenue breakdown for the quarter was approximately 81% for devices, 13% for service, 2% for software and 4% for other revenue.   During the quarter, RIM shipped approximately 7.8 million devices.

Approximately 3.8 million net new BlackBerry subscriber accounts were added in the quarter.  At the end of the quarter, the total BlackBerry subscriber account base was approximately 28.5 million.

“We are starting fiscal 2010 with strong financial performance and impressive market share gains, including a 55% share of the U.S. smartphone market according to IDC’s latest estimate,” said Jim Balsillie, Co-CEO at RIM.

“The industry leading BlackBerry product portfolio is driving strong customer demand around the world and our penetration of new market segments continues to expand. We are particularly excited about the strength of our product portfolio for fiscal 2010 and we are looking forward to driving continued growth and profitability in our business throughout the remainder of the year.”

Revenue for the second quarter of fiscal 2010 ending August 29, 2009 is expected to be in the range of $3.45-$3.70 billion.  Gross margin for Q2 is expected to be approximately 43-44%.