30.06.2012 13:50
BlackBerry smartphone manufacturer Research In Motion (RIM) reported the company faced a loss of approximately $2.1 billion in comparison over the first quarters of fiscal years 2012 and 2013.RIM detailed a loss of 33% when compared over the...
BlackBerry smartphone manufacturer Research In Motion (RIM) reported the company faced a loss of approximately $2.1 billion in comparison over the first quarters of fiscal years 2012 and 2013.
RIM detailed a loss of 33% when compared over the first quarter of fiscal year 2013 and the previous quarter, total revenue amounted at $2.8 billion down from $4.2 billion in the previous quarter.
"Revenue for the first quarter of fiscal 2013 was $2.8 billion, down 33% from $4.2 billion in the previous quarter and down 43% from $4.9 billion in the same quarter of fiscal 2012," RIM posted in their first quarter results for fiscal year 2013.
RIM noted 7.8 million BlackBerry devices were shipped alongside 260,000 BlackBerry PlayBook tablets.
RIM estimated its revenue breakdowns for the quarter as 59% for hardware, 36% for service and 5% for software and other revenue.
"GAAP net loss for the quarter was $518 million, or $0.99 per share diluted, compared with a GAAP net loss of $125 million, or $0.24 per share diluted, in the prior quarter and GAAP net income of $695 million, or $1.33 per share diluted, in the same quarter last year," the results outlined.
Thorsten Heins, RIM's newest CEO appointed in January noted he was not satisfied with the results and continues to work aggressively within all areas of RIM.
"Our first quarter results reflect the market challenges I have outlined since my appointment as CEO at the end of January. I am not satisfied with these results and continue to work aggressively with all areas of the organization and the Board to implement meaningful changes to address the challenges," Heins said.
The CEO observed the company's first priority going forward now is BlackBerry 10 operating system (OS) and BlackBerry devices that will run the OS.
Heins further noted he will not compromise the software by giving it an early release and has scheduled release within the first quarter of 2013; RIM had previously announced BlackBerry 10 would be released within the fourth quarter of 2012.
"Our top priority going forward is the successful launch of our first BlackBerry 10 device, which we now anticipate will occur in the first quarter of calendar 2013. In parallel with the roll out of BlackBerry 10," said Heins.
BlackBerry currently owns a customer base of approximately 78 million.
"RIM's development teams are relentlessly focussed on ensuring the quality and reliability of the platform and I will not compromise the product by delivering it before it is ready. I am confident that the first BlackBerry 10 smartphones will provide a ground-breaking next generation smartphone user experience," RIM's CEO outlined.
RIM previously this year in March announced its Cost Optimization and Resource Efficiency (CORE) program, RIM announced CORE would save the company up to $1 billion by the end of fiscal 2013.
The CORE program would also mean workforce reduction and RIM has announced a total of nearly 5000 job cuts in the coming months.
"The total of cash, cash equivalents, short-term and long-term investments was $2.2 billion as of June 2, 2012, compared to $2.1 billion at the end of the previous quarter, an increase of approximately $100 million from the prior quarter," the results reported.