Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Connor26 who wrote (46703)	6/28/1999 1:46:00 PM
From: Teri Garner	Read Replies (2) \| Respond to of 120523

Research In Motion Rated New 'Strong Buy' at CIBC World Markets Toronto, June 28 (Bloomberg Data) -- Research In Motion (RIM CN) was rated new ''strong buy'' by analyst Todd Coupland at CIBC World Markets Inc.. The 12-month target price is C$37.00 per share. **** Earnings: Wednesday June 23, 7:00 am Eastern Time Company Press Release SOURCE: Research In Motion Limited Research In Motion Reports Record Results for Q1 WATERLOO, ON, June 23 /CNW-PRN/ - Research In Motion Limited (NASDAQ: RIMM, TSE: RIM), a leader in wireless email and two-way wireless data communications, today reported first quarter results for the three months ended May 31, 1999. (All amounts are in Canadian dollars unless otherwise stated.) Revenue for the first quarter of fiscal 2000 was $24.1 million, representing a 172% increase over $8.9 million in the same period last year. RIM's Inter(at)ctive Pager accounted for approximately 77% of revenue for the period, while OEM radio product sales accounted for approximately 20% of revenue. ''Momentum behind our products continues to build,'' said Mike Lazaradis, RIM President and Co-CEO. ''The successful launch of BlackBerry Enterprise Server, together with separate announcements from major distribution partners including BellSouth, PageNet, Cantel, American Mobile and SkyTel suggests that we are beginning a very exciting period.'' ''Partnerships with industry leaders is the key,'' said Jim Balsillie, RIM Chairman and Co-CEO. ''RIM and Intel won an award for the best North American business alliance. We have also successfully partnered with Microsoft in delivering BlackBerry to Microsoft Exchange users.'' Gross margin for the first quarter was 42%, compared to 43% in the first quarter of fiscal 1999 and 38% in the previous fourth quarter of fiscal 1999 ended February 28, 1999. Gross margin was higher than the fourth quarter as revenue included payments for non-recurring engineering for advanced development work. Net income for the first quarter was $2.7 million (4 cents basic and fully diluted per share) compared to $0.8 million (1 cent basic and fully diluted per share) in the same quarter last year. Gross research and development expenses were $3.6 million or 15% of revenue for the quarter as compared to $3.1 million (11% of revenue) in the fourth quarter of fiscal 1999 and $2.6 million (29% of revenue) in the first quarter of fiscal 1999. Sales, Marketing and Administrative expenses remained consistent with the previous quarter at $3.4 million (14% of revenue) as RIM continues to support the BlackBerry rollout and the marketing efforts of channel partners. RIM's cash position remains strong with $91 million in combined cash and short-term securities at May 31, 1999. Investment income of $1.1 million was generated on cash reserves for the quarter. biz.yahoo.com