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  1. KAPS's Avatar
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       #1  
    Jobs cuts, low profit, fall in earning is there any others good news that RIM wants to share with the world.
    RIM is not going to die but it will be purchased by some other big company like Cisco or Microsoft so enjoy all RIM ******* enjoy the last few days of RIM.

    RIM Falls 15%: FYQ1 Rev, Q2 View Miss; Cuts Year View; Plans Job Cuts, Share Buyback - Tech Trader Daily - Barrons.com

    BlackBerry maker Research in Motion (RIMM) this afternoon reported fiscal Q1 revenue below analysts’ estimates, but profit a penny ahead, and a Q2 revenue forecast well below estimates, and cut its year outlook.

    The company will pursue cost reductions, including laying off workers, and will buy back shares, it said.

    Revenue in the three months ended in May rose 16%, year over year, and fell 12%, quarter to quarter, to $4.91 billion, yielding EPS of $1.33.

    Analysts had been modeling $5.15 billion in revenue and $1.32 in EPS.

    Co-CEO Jim Balsillie remarked, “Fiscal 2012 has gotten off to a challenging start. The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter.”

    He added, “RIM will see strong profit growth in the latter part of fiscal 2012.”

    The Q1 results were consistent with RIM’s updated forecast, provided April 28th, of revenue slightly below $5.2 billion, and EPS in a range of $1.30 to $1.37.

    However, unit sales of 13.2 million were below even the company’s reduced forecast for 13.5 million to 14.5 million units.

    Gross profit of 44% was slightly better than the company expected, it said, based on a better mix of devices sold.

    RIM shipped 500,000 units of its PlayBook tablet computer in the quarter, it said.

    For the current quarter, the company sees $4.2 billion to $4.8 billion, and EPS of 75 cents to $1.05.

    Analysts have been modeling $5.46 billion and $1.40.

    For the full year, RIM cut its outlook for $7.50 per share in earnings to just $5.25 to $6 per share.

    RIM shares closed up 16 cents, half a percent, today, at $35.33. The shares were halted at about a quarter past 4 pm, Eastern, after rising about 1% in late trading.

    Shares are expected to begin trading again at 4:50 pm, Eastern.

    RIM said it “will begin a program to streamline operations across the organization, which will include a headcount reduction.”

    The company said the cuts will help it to better focus on growth opportunities, and will begin being implemented this quarter. One-time charges for the restructuring will be disclosed when RIM reports Q2 results, the company said.

    RIM’s management approved a share repurchase program, as well, without disclosing the exact timing and amounts of the buybacks:

    Rim’s board of directors today also approved a share repurchase program to purchase for cancellation through the facilities of the NASDAQ Stock Market (NASDAQ) or by way of private agreement up to 5% of RIM’s outstanding common shares. The share repurchase program may commence after July 10, 2011 and will remain in place for up to 12 months or until the purchases are completed or the program is terminated by RIM.

    RIM’s conference call with analysts is coming up at 5pm, and you can catch it here.

    Update: RIM shares have resumed trading and are now down $5.25, or 15%, at $30.06.
  2. #2  
    The Microkia Berry
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  3. #3  
    this is real peoples jobs and livelihoods. I dont think we should be 'enjoy'ing watching it.
  4. KAPS's Avatar
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       #4  
    Quote Originally Posted by hagster View Post
    this is real peoples jobs and livelihoods. I dont think we should be 'enjoy'ing watching it.
    One person loss is another person gain, RIM losing market share may help HP gain market share.
    Those people lost their jobs because their management was incompetent.
  5. #5  
    Quote Originally Posted by hagster View Post
    this is real peoples jobs and livelihoods. I dont think we should be 'enjoy'ing watching it.
    Yeah, OP, why do you hate RIM so much? Just curious.
  6. KAPS's Avatar
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       #6  
    Quote Originally Posted by weenarz1176 View Post
    Yeah, OP, why do you hate RIM so much? Just curious.
    Short and sweet answer will be I hate RIM ******* they are obnoxious.
    I also hate RIM phone so called status symbol, RIM pathetic BBM service for which they charge a bomb atleast in India.
    RIM pathetic handset, which are good for nothing, if I wanted a good handset with battery life and email facilities I would any day pick up a Nokia phone than a RIM phone.
    And the last but the most deserving reason to hate is RIM copied WebOS in playbook by doing this they lost the last percent of respect I had for that company.


    I never feel bad a company, who can't even innovate, the rules are simple in IT innovate or die.
    If RIM copies Palm WebOS they must also copy it's fate and get brought out by some other big company.
    My reason may not be valid for others but it won't matter to me.
    Long live HP and WebOS.
  7. #7  
    Somehow the fact that they agreed to help governments spy on their citizens didn't make the list. That to me is much more serious than fanboyism over webOS.
    HP has officially ruined it's own platform and kicked webOS loyalists and early TouchPad adopters to the curb. You think after you drop it like a hot potato and mention it made no money and is costing you money, anyone else wants it??? Way to go HP!!

    And some people are fools to keep believing their hype. HP has shown they will throw webOS under the bus and people are still having faith in them??? News flash: if it's own company won't stand behind it, it's finished!
  8. #8  
    Quote Originally Posted by hagster View Post
    this is real peoples jobs and livelihoods. I dont think we should be 'enjoy'ing watching it.
    On the other hand, I hear HP is hiring...

    -- Sent from my Palm Pre using Forums
  9. RafRol's Avatar
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    #9  
    RIM still has money in the bank, money they can use to turn the company around... if only they can get rid of their CEOs and replace them with 1 outsider.
    Visor/Sprint Springboard Expansion Module > Visor Platinum > Tungsten E > Centro (work) > Palm Pre
  10. #10  
    Quote Originally Posted by KAPS View Post
    ...clip...I hate RIM ******* they are obnoxious.
    ....clip...
    Tone it down KAPS.

    <<closed>>
    Just call me Berd.

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