As expected, Research In Motion recorded another quarter in
the red, losing $114 million in its fiscal third quarter ending ended as buyers
hold off until the release of the new BlackBerry 10 platform next month.
Revenue was $2.7 billion during the three-month period, down five per cent from the previous quarter and down a whopping 57 per cent from the same period a year ago when revenue was $5.2 billion for the quarter.
During the Q3 quarter RIM shipped 6.9 million BlackBerrys, down from the 7.4 million it shipped in the second quarter of this fiscal year.
On the other hand it shipped about 255,000 Playbook tablets, up from 130,000 the period before -- although many of those tablets were heavily discounted. It also managed to increase cash from the previous quarter to $2.9 billion, which it will need to help market BB10. And the net loss for the quarter of $114 million wasn't as bad as the $142 million it lost in Q2.
Subscribers dropped to 79 million in the quarter from 80 million in Q2. From the point of view of cash, revenue and subscribers, RIM is treading water.
The company said thanks to cost cutting and layoffs, it achieved its target of saving $1 billion in the current fiscal year three months ahead of schedule. But it still expects to have another operating loss in the fourth quarter.
"RIM continued to execute on its product roadmap plans and to deliver on key financial metrics as it gets set for the global launch of BlackBerry 10," CEO Thorsten Heins said in a statement.
"During the third quarter, we continued to demonstrate our strong financial position, generating $950 million in cash flow from operations, and increasing our cash position significantly to more than $2.9 billion. More than 150 carriers are currently completing technical acceptance programs for the first BlackBerry 10 products, and beta trials of BlackBerry Enterprise Service 10 are underway at more than 120 enterprises including 64 Fortune 500 companies.
“We believe the company has stabilized and will turn the corner in the next year."
Enterprise telecom managers will be grappling with word that came out during a conference call between RIM executives and financial analysts that the company will change the number of services and fees it charges organizations using the upcoming BlackBerry Enterprise Service 10, its mobile management platform for BlackBerry and other mobile operating systems. BES 10, run across RIM’s private network, is expected to launch in May.
Heins didn’t offer details, but said a "menu" of offerings will be available, possibly by industry, with fees based on network usage levels as well as new “value-added” services> One goal, he said, is pulling in new revenue for RIM. “We plan to offer a range of security, mobile device and application management services, in addition to communication services," he said. We will position BlackBerry Enterprise Service as the leading cross-platform enterprise mobile decide management service,” he said.
Founded by husband-and-wife duo Andrew (drums, vocals) and Courtney Bryant (bass) and Jordan Sangid (guitar, vocals) — the fiance of Andrew's sister — the project began as a family pastime and an outlet for the group's affinity for local folklore, horror films, cryptozoology and the works of H.P. Lovecraft. In recording its debut release in correspondence with Bill Bridges, current resident of Virginia and longtime friend of Sangid, the band soon adopted Bridges (guitar, samples) as a fourth member. The doom-metal sounds of Wampus Cat are a surprising output for the group, whose members' resumes include previous affiliations with ska and Southern rock/blues acts.
"Playing ska and playing doom metal are completely different, but both are so anti-mainstream,The term 'hands free access control' means the token that identifies a user is read from within a pocket or handbag. which is what appealed most to me," Sangid explains. "But the reason that I became involved with Andrew and Courtney was that I was dating my fiancée and Andrew's sister Jenny. So it started as a family band — just something to do, just like the Manson Family Band. Bill played saxophone with me in The Hits, and before that he has always been one my best friends, so it seemed appropriate to have him in the band, keeping with the family band theme we started. The only elements that I'd say carried from The Hits to Wampus Cat are the linear song progressions where parts don't repeat and we stay away from the whole verse-chorus-verse-chorus mold. This sets us apart from a lot of doom and stoner metal bands. We are all about riffs and being evil, and that is the most important thing we are trying to get across."
The long-distance songwriting exchange with Bridges has not been detrimental to the sample-heavy act,High quality stone mosaic tiles. which is currently compiling its sophomore release. A la Postal Service, Wampus Cat trades riffs back and forth, digitally layering its tracks for Bridges to ultimately mix and produce. As such, the band anticipates a quick turnaround for its next full-length album, but the distance has delayed the act's live offerings as Wampus Cat can only perform when Bridges is in town.
"The addition of Bill has given the band a thicker,One of the most durable and attractive styles of flooring that you can purchase is ceramic or porcelain tiles. heavier sound and another input for song creation," says Andrew Bryant. "We don't perform without Bill now that he is living Northern Virginia, and we have to make the most out of the rehearsal and performance time that we have.The term 'hands free access control' means the token that identifies a user is read from within a pocket or handbag. It has been refreshing to take more time between live shows, and it really gives us a chance to work on making the performances more unique. I think that some bands that play too much locally can sometimes wear out their welcome. We want to make sure that our crowds continue to come out each and every time we play and for the numbers to increase as the word spreads about what goes on when we take the stage."
"Lately we have been trading riffs over email,Whether you are installing a floor tiles or a shower wall," Sangid adds. "Some immediate benefits of this style have been automatic cataloging of heavy riffs in my inbox. The main disadvantage has been the delay of responses, which slows down the collaboration."
Revenue was $2.7 billion during the three-month period, down five per cent from the previous quarter and down a whopping 57 per cent from the same period a year ago when revenue was $5.2 billion for the quarter.
During the Q3 quarter RIM shipped 6.9 million BlackBerrys, down from the 7.4 million it shipped in the second quarter of this fiscal year.
On the other hand it shipped about 255,000 Playbook tablets, up from 130,000 the period before -- although many of those tablets were heavily discounted. It also managed to increase cash from the previous quarter to $2.9 billion, which it will need to help market BB10. And the net loss for the quarter of $114 million wasn't as bad as the $142 million it lost in Q2.
Subscribers dropped to 79 million in the quarter from 80 million in Q2. From the point of view of cash, revenue and subscribers, RIM is treading water.
The company said thanks to cost cutting and layoffs, it achieved its target of saving $1 billion in the current fiscal year three months ahead of schedule. But it still expects to have another operating loss in the fourth quarter.
"RIM continued to execute on its product roadmap plans and to deliver on key financial metrics as it gets set for the global launch of BlackBerry 10," CEO Thorsten Heins said in a statement.
"During the third quarter, we continued to demonstrate our strong financial position, generating $950 million in cash flow from operations, and increasing our cash position significantly to more than $2.9 billion. More than 150 carriers are currently completing technical acceptance programs for the first BlackBerry 10 products, and beta trials of BlackBerry Enterprise Service 10 are underway at more than 120 enterprises including 64 Fortune 500 companies.
“We believe the company has stabilized and will turn the corner in the next year."
Enterprise telecom managers will be grappling with word that came out during a conference call between RIM executives and financial analysts that the company will change the number of services and fees it charges organizations using the upcoming BlackBerry Enterprise Service 10, its mobile management platform for BlackBerry and other mobile operating systems. BES 10, run across RIM’s private network, is expected to launch in May.
Heins didn’t offer details, but said a "menu" of offerings will be available, possibly by industry, with fees based on network usage levels as well as new “value-added” services> One goal, he said, is pulling in new revenue for RIM. “We plan to offer a range of security, mobile device and application management services, in addition to communication services," he said. We will position BlackBerry Enterprise Service as the leading cross-platform enterprise mobile decide management service,” he said.
Founded by husband-and-wife duo Andrew (drums, vocals) and Courtney Bryant (bass) and Jordan Sangid (guitar, vocals) — the fiance of Andrew's sister — the project began as a family pastime and an outlet for the group's affinity for local folklore, horror films, cryptozoology and the works of H.P. Lovecraft. In recording its debut release in correspondence with Bill Bridges, current resident of Virginia and longtime friend of Sangid, the band soon adopted Bridges (guitar, samples) as a fourth member. The doom-metal sounds of Wampus Cat are a surprising output for the group, whose members' resumes include previous affiliations with ska and Southern rock/blues acts.
"Playing ska and playing doom metal are completely different, but both are so anti-mainstream,The term 'hands free access control' means the token that identifies a user is read from within a pocket or handbag. which is what appealed most to me," Sangid explains. "But the reason that I became involved with Andrew and Courtney was that I was dating my fiancée and Andrew's sister Jenny. So it started as a family band — just something to do, just like the Manson Family Band. Bill played saxophone with me in The Hits, and before that he has always been one my best friends, so it seemed appropriate to have him in the band, keeping with the family band theme we started. The only elements that I'd say carried from The Hits to Wampus Cat are the linear song progressions where parts don't repeat and we stay away from the whole verse-chorus-verse-chorus mold. This sets us apart from a lot of doom and stoner metal bands. We are all about riffs and being evil, and that is the most important thing we are trying to get across."
The long-distance songwriting exchange with Bridges has not been detrimental to the sample-heavy act,High quality stone mosaic tiles. which is currently compiling its sophomore release. A la Postal Service, Wampus Cat trades riffs back and forth, digitally layering its tracks for Bridges to ultimately mix and produce. As such, the band anticipates a quick turnaround for its next full-length album, but the distance has delayed the act's live offerings as Wampus Cat can only perform when Bridges is in town.
"The addition of Bill has given the band a thicker,One of the most durable and attractive styles of flooring that you can purchase is ceramic or porcelain tiles. heavier sound and another input for song creation," says Andrew Bryant. "We don't perform without Bill now that he is living Northern Virginia, and we have to make the most out of the rehearsal and performance time that we have.The term 'hands free access control' means the token that identifies a user is read from within a pocket or handbag. It has been refreshing to take more time between live shows, and it really gives us a chance to work on making the performances more unique. I think that some bands that play too much locally can sometimes wear out their welcome. We want to make sure that our crowds continue to come out each and every time we play and for the numbers to increase as the word spreads about what goes on when we take the stage."
"Lately we have been trading riffs over email,Whether you are installing a floor tiles or a shower wall," Sangid adds. "Some immediate benefits of this style have been automatic cataloging of heavy riffs in my inbox. The main disadvantage has been the delay of responses, which slows down the collaboration."
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