Sabtu, 17 September 2011

DEBT FINANCING. RIM shares fall on weaker earnings

RIM 3-month chartRIM-3-month chart

Shares of research in motion decreased on Friday, a day after a financial results disappointing.
RIM, concluded from $5.90, or 20 percent to $23.50 on the Toronto Stock Exchange Friday.
After the end of regular trading on Thursday, RIM said its second quarter results for the three months Aug. 31, after taking into account the cost of slashing 2,000 jobs from its workforce and as sales slipped on lower than expected sales of smartphones and tablets 58 percent to 329 million US$ or dropped 63 cents per share.
Compared with a profit of $797 million, or $1.46 per share on revenue of $4.62 billion a year ago.
Adjusted net income was 80 cents per share. 90 Cents United States compared with analysts estimates compiled by Thomson Reuters.
Sales dropped 15 percent to just under $4,2 billion 4.6 billions of dollars.
RIM shipped 10.6 million BlackBerrys, less than the expectations of analysts from between 11 to 12 million. It the 200,000 BlackBerry textbook tablets, which delivered also below analysts forecasts.
Co-CEO Mike Lazaridis said updated versions of the BlackBerry bold, torch and curve were only on sale for a few weeks of the quarter, and he expects to get more sales.
RIM projected revenue in the current quarter 5.3 to 5.6 billion $ and earnings per share in the range of $1.20 to $1.40. The company is to be expected, earnings per share for the full year at the lower end of the range it announced by between $5.25 and $6 per share.
In the course of the earnings report several analysts cut their price targets on the RIM shares.
However, not every analyst is down on the company.
"We believe that the stock will recover, growing evidence that the new equipment by sale in United States and international markets," said BMO Capital Markets analyst Tim long.
with files from the Canadian Press accessibility links

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