BlackBerry stock falls on weak forecast

Alexander Turcic · 04-06-2006, 04:55 PM

BlackBerry maker Research in Motion reported its fourth-quarter earnings today after the bell. Earnings per share were $0.65, falling slightly short of the consensus estimate of $0.67. Looking forward, the company said results for the first quarter of fiscal 2007 are likely to be below analysts' expectations.

"We have seen a recovery in subscriber additions and business momentum since RIM settled the patent litigation," said Dennis Kavelman, Chief Financial Officer at RIM. "We have been very encouraged by the increasingly positive indications from customers and partners over the past several weeks, but we also believe it is important to remain prudent in our outlook as we continue to monitor and foster the post-settlement momentum throughout Q1 and Q2."

Shares of RIM are currently trading at $78.08 in the after-hours session, down 7.5 percent, from today's closing price of $84.38 on Nasdaq.

PS: You can listen to the conference call live via the webcast today at 5:00pm ET.

doctorow · 04-06-2006, 05:26 PM

Ouch! I guess that's good news for Palm?

04-06-2006, 04:55 PM	#1
Alexander Turcic Fully Converged Posts: 18,175 Karma: 14021202 Join Date: Oct 2002 Location: Switzerland Device: Too many to count here.	BlackBerry stock falls on weak forecast BlackBerry maker Research in Motion reported its fourth-quarter earnings today after the bell. Earnings per share were $0.65, falling slightly short of the consensus estimate of $0.67. Looking forward, the company said results for the first quarter of fiscal 2007 are likely to be below analysts' expectations. "We have seen a recovery in subscriber additions and business momentum since RIM settled the patent litigation," said Dennis Kavelman, Chief Financial Officer at RIM. "We have been very encouraged by the increasingly positive indications from customers and partners over the past several weeks, but we also believe it is important to remain prudent in our outlook as we continue to monitor and foster the post-settlement momentum throughout Q1 and Q2." Shares of RIM are currently trading at $78.08 in the after-hours session, down 7.5 percent, from today's closing price of $84.38 on Nasdaq. PS: You can listen to the conference call live via the webcast today at 5:00pm ET.

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04-06-2006, 05:26 PM	#2
doctorow Guru Posts: 914 Karma: 3410461 Join Date: May 2004 Device: Kindle Touch	Ouch! I guess that's good news for Palm?

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