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RIM's BlackBerry Booming

BlackBerry grew profits 73 percent on the back of strong device sales and announced a three-for-one stock split after the bell on Thursday afternoon.

For its first quarter of fiscal 2008, the BlackBerry maker reported net income record $223.2 million -- or $1.17 a share -- up 73 percent over the previous year on revenue of $1.08 billion. Excluding stock option expenses of $5 million, the adjusted earnings per share figure rose to $1.20, beating analyst expectations of $1.06 a share. The firm is predicting that overall revenue for the fiscal second quarter will up at $1.3 to $1.365 billion. Most of this revenue will be driven by continued strong devices sales of the BlackBerry Curve, Pearl, and 8830.

"We are looking forward to passing our 20 millionth BlackBerry shipment," this summer, said RIM Co-CEO Jim Basilie on the firm's earnings conference call.

Basilie claims that the imminent iPhone launch is actually "overwhelmingly positive" for RIM "They did [us] a great favor," he says. "They drove attention to the converged device space, where we are a leader."

Basilie says the company is working on "positive" and "unexpected" upgrades in the multimedia and consumer space this Fall. This is over and above the enterprise-related WiFi and fixed/mobile convergence (FMC) the firm has already promised.

"A couple of them people just don't see coming," Basilie bragged.

— Dan Jones, Site Editor, Unstrung

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