RIM losing money

Wednesday, 10 April 2002

Research In Motion Ltd. reported a wider fourth quarter loss on Tuesday as sales fell from a year earlier while research and development costs rose. The Waterloo, Ontario-based maker of the popular BlackBerry wireless communications device, reported a loss of $8.6 million, or 11 cents a share in the quarter ended March 2, compared with a loss of $6.5 million, or 8 cents a share, in the corresponding quarter of last year. Twenty one analysts polled by Thomson Financial/First Call had forecast an average loss of 15 cents, with forecasts ranging between 11 and 16 cents a share for the quarter. Sales for the quarter fell to $66.1 million from $90.1 million a year earlier. Late last month, Research In Motion signed an agreement with Hong-Kong based Hutchison Telecom to offer its BlackBerry device in Asia. Source: Reuters

Last Updated ( Wednesday, 10 April 2002 )

 

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