Research in Motion (RIMM $29.20 -6.13) reported first quarter earnings
of $1.33 per share, $0.01 better than the Capital IQ Consensus Estimate of
$1.32.
Revenues rose 15.9% year/year to $4.91 billion versus the $5.14 billion
consensus.
RIMM reports first quarter gross margins of 43.9%; guidance and street
expectations were 41.5%. RIMM reported second quarter smart phones shipped were
13.2 million; guidance was 13.5 million to 14.5 million.
For the second quarter, the company issued earnings guidance of $0.75 to $1.05
versus the $1.38 Capital IQ Consensus Estimate and expects revenue to fall in
the range of $4.2 billion to $4.8 billion versus the $5.44 billion Capital IQ
Consensus Estimate. The company also sees gross margins of 39% for the second
quarter.
For its fiscal year 2012, the company lowered earnings guidance to $5.25 to
$6.00 versus $6.24 Capital IQ Consensus Estimate, down from $7.50. Separately,
the company's Board of Directors approved a share repurchase program to purchase
for cancellation through the facilities of the NASDAQ or by way of private
agreement up to 5% of outstanding common shares.






