RIM grows quarterly revenues 37%, net profit declines

Research In Motion reported revenues for its fiscal second quarter to 29 August of USD 3.42 billion, up 37 percent from a year earlier. RIM shipped 8.3 million BlackBerry devices in the quarter, and a net 3.8 million BlackBerry subscriber accounts were activated, for a total 32 million worldwide. Net profit fell to USD 475.6 million or USD 0.83 per share, from USD 495.5 million or USD 0.86 per share a year ago. The result includes a charge of USD 112.8 million for settling its litigation with Visto. RIM forecast third-quarter sales of USD 3.60-3.85 billion, with a gross margin of around 43 percent. Net subscriber additions should reach 4.0-4.3 billion in the thiree months to November, while EPS is estimated at USD 1.00-1.08. RIM finished August with USD 2.50 billion in cash, after operating cash flow of USD 564 million in the quarter.