RIMM ($15-$18-$14-15) Falls After Lowering Second-Half Estimates
By TSC Staff
10/04/2001 09:24 AM EDT
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The maker of the Blackberry wireless email device, Research in Motion (RIMM:Nasdaq - news - commentary - research), was down 5.7% in preopen Instinet trading after lowering estimates for the second half of its fiscal year late Wednesday.
In addition to a challenging business environment, the company pointed to delayed rollout of Europe's high-speed phone networks and a loss of revenue from troubled network operator Motient.
The company expects a third-quarter loss of 6 to 9 cents a share, on revenue of $75 million to $85 million, down $20 million from earlier guidance. Revenue for 2003 will rise about 50%, to as much as $500 million, with earnings between zero and 10 cents a share, the company said.
Analysts were expecting third-quarter earnings of 5 cents a share, on revenue of $99.7 million, according to Thomson Financial/First Call.
Research in Motion posted earnings, excluding charges, for the second quarter of 5 cents a share, compared with a year-earlier loss of 2 cents a share. Revenue was $80.1 million, up 88% from $42.5 million a year earlier. |
