RIM publica resultados de Q1 2012

Ya se ha hecho público los resultados financieros del primer trimestre del año 2012, donde parece que hay mucho que hacer en la compañía.

Research In Motion publicó luego de la sesión de la bolsa de valores del día de ayer, Junio 16 en New York, sus resultados del primer trimestre del 2012.

Comunicado de prensa:

Research In Motion Reports First Quarter Fiscal 2012 Results and Revises Full Year Guidance

Announces Plans to Streamline Operations and Accelerate New Product Introductions

Board of Directors Approves Share Repurchase Program

WATERLOO, ONTARIO–(Marketwire – June 16, 2011) – Research In Motion Limited (RIM) (NASDAQ:RIMM)(TSX:RIM), a world leader in the mobile communications market, today reported first quarter results for the three months ended May 28, 2011 (all figures in U.S. dollars and U.S. GAAP).

Highlights:

Revenue in the first quarter of fiscal 2012 grew 16% over the same quarter last year

International revenue1 in Q1 grew 67% year over year

Gross margin in the quarter was approximately 44%, slightly higher than expected due to product mix

RIM launched the BlackBerry PlayBook tablet in North America and shipped approximately 500,000 units in the first quarter

Q1 Fiscal 2012 Results:

Revenue for the first quarter of fiscal 2012 was $4.9 billion, down 12% from $5.6 billion in the previous quarter and up 16% from $4.2 billion in the same quarter of last year. The revenue breakdown for the quarter was approximately 78% for hardware revenue, 20% for service and 2% for software and other revenue. During the quarter, RIM shipped approximately 13.2 million BlackBerry handheld devices and approximately 500,000 BlackBerry Playbook tablets.

“Fiscal 2012 has gotten off to a challenging start. The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter.” said Jim Balsillie, Co-CEO at Research In Motion. “RIM’s business is profitable and remains solid overall with growing market share in numerous markets around the world and a strong balance sheet with almost $3 billion in cash. We believe that with the new products scheduled for launch in the next few months and realigning our cost structure, RIM will see strong profit growth in the latter part of fiscal 2012.”

Net income for the quarter was $695 million, or $1.33 per share diluted, compared with net income of $934 million, or $1.78 per share diluted, in the prior quarter and net income of $769 million, or $1.38 per share diluted, in the same quarter last year.

The total of cash, cash equivalents, short-term and long-term investments was $2.9 billion as of May 28, 2011, compared to $2.7 billion at the end of the previous quarter, an increase of approximately $170 million from the prior quarter. Cash flow from operations in Q1 was approximately $1 billion. Uses of cash included intangible asset additions of approximately $560 million, capital expenditures of approximately $220 million and business acquisitions of approximately $30 million.

1 Includes revenue outside of the U.S. and Canada

Cost Optimization Program:

The company also announced that it will begin a program to streamline operations across the organization, which will include a headcount reduction. This realignment will be focused on taking out redundancies and a reallocation of resources to allow us to focus on the areas that offer the highest growth opportunities and align with RIM strategic objectives, such as accelerating new product introductions. We expect to implement this program beginning in the second quarter with the benefits impacting results primarily in Q3 and beyond. Any one-time charges associated with this initiative are not included in our Q2 and full year outlook but will be identified and disclosed when we report our second quarter results.

Share Repurchase Program:

RIM’s Board of Directors today also approved a share repurchase program to purchase for cancellation through the facilities of the NASDAQ Stock Market (NASDAQ) or by way of private agreement up to 5% of RIM’s outstanding common shares. The share repurchase program may commence after July 10, 2011 and will remain in place for up to 12 months or until the purchases are completed or the program is terminated by RIM.

The price that RIM will pay for any shares purchased over NASDAQ will be the prevailing market price at the time of purchase. The share repurchase program will be effected in accordance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, which contains restrictions on the number of shares that may be purchased on a single day, subject to certain exceptions for block purchases, based on the average daily trading volumes of RIM’s shares on NASDAQ. Any purchases made by way of private agreement may be at a discount to the prevailing market price at the time of purchase, and would be subject to regulatory approval.

RIM’s Board of Directors believes that a share repurchase program at this time is in the best interests of RIM and its shareholders, and will not impact RIM’s ability to execute its growth plans. Any shares purchased under the program will increase the proportionate interest of, and may be advantageous to, all remaining shareholders of RIM.

The actual number of shares purchased, the timing of purchases, and the price at which the shares would be bought under the share repurchase program will depend on future market conditions and upon potential alternative uses for cash resources. There is no assurance that any shares will be purchased under the share repurchase program and RIM may elect to suspend or discontinue the program at any time.

Q2 and Full Year 2012 Outlook:

Revenue for the second quarter of fiscal 2012 ending August 27, 2011 is expected to be in the range of $4.2-$4.8 billion. Gross margin percentage for the second quarter is expected to be approximately 39%. Earnings per share for the second quarter are expected to be $0.75-$1.05 diluted, excluding any one-time charges. Earnings per share for the full year fiscal 2012 are now expected to be between $5.25-$6.00 diluted, excluding any one-time charges or share repurchases.

Conference Call and Webcast:

A conference call and live webcast will be held beginning at 5 pm ET, June 16, 2011, which can be accessed by dialing 1-800-814-4859 (North America), 416-644-3414 (outside North America). The replay of the company’s Q1 conference call can be accessed after 7 pm ET, June 16, 2011 until midnight ET, June 30, 2011. It can be accessed by dialing 416-640-1917 and entering passcode 4445546#. The conference call will also appear on the RIM website live at 5 pm ET and will be archived at http://www.rim.com/investors/events/index.shtml.

Sin duda alguna vemos como lo esporádico de detalles de equipos nuevos ha logrado afectar las ganancias de RIM. Además lo sorpresivo de lo que torno que el BlackBerry OS 6.1 será el 7 y el 7 no es en efecto el esperado BlackBerry QNX OS o rumorado BlackBerry OS 8 ha quedado plasmado en la atención de los inversionistas.

Sorpresivamente, RIM al momento de redactar los resultados, todavía no tenían información de cuantas unidades del BlackBerry PlayBook realmente fueron vendidas, versus a los 500,000 que se han enviado a comercios. Esto también puso mucho a especular a inversionistas si se ha llevado bien el mercadeo del producto.

Pero para sorpresa de todos, junto con Jim Balsillie, co-Ceo de RIM y conocido por encargarse del lado corporativo, mercadear y financiero de la empresa, estuvo junto a su colega y co-Ceo Mike Lazaridis, donde no se recuerda la presencia de este en conferencia telefónica con inversionistas, esto pudo relajar un poco las tensiones que estos resultados provocaron y de hecho, Balsillie indicó que este trimestre corriendo pudiera ser similar.

Entre lo que ambos indicaron es y en respuesta a las críticas de cómo se manejó el lanzamiento del BlackBerry PlayBook, basado en rumores que el PlayBook pudo haber sido retrasado, coinciden que no había punto en atrasar el producto y que era mejor que el producto original del PlayBook. Mike fue quien tomó la batuta en cuanto el por qué poco movimiento de equipos y software nuevos. Prácticamente tecnicismos de certificaciones y trabajos con proveedoras móviles en conjunto a la evolución del mercado en cuanto a hardware se refiere. Jim y Mike hacen hincapié de la importancia a la estructura de co-Presidentes que llevan ambos desde el día 1 en RIM y que ha sido recientemente objetada si casi siempre se les ve por separados. En cuanto al PlayBook, pronto veremos updates más seguidos, pero desafortunadamente la versión 4G del PlayBook fue retrasado para otoño. En el caso de Puerto Rico, Sprint seria la compañía que hasta el momento ofrecerá el equipo. Finalmente confirman que el año 2012 marcará la llegada del OS QNX para equipos BlackBerry y todo lo que se programe para este año 2011, seria lanzado casi al mismo tiempo.

Como recordarán a principio de años mencionamos que debemos esperar de este año. Todos concordamos de que prácticamente RIM debe centrarse en tirar más equipos a la par con la demanda de hoy día. Aunque estamos en tiempos difíciles, la gente sabe lo que quiere y RIM ha logrado derrotar el “taboo” de que equipos BlackBerry son para empresarios y mucha gente han hecho el brinco de tener su primera experiencia con Smartphone usando BlackBerry.

Sería bueno que la fórmula de co-CEOs se viera no solo interno sino externo, lamentablemente la economía es corrida por personas que se dejan llevar por especulaciones y recientemente hemos escuchado gente temiendo que la formula no estaba funcionando si ni Lazaridis ni Balsillie no se les veía trabajando juntos en público, de hecho, notamos a Lazaridis presente en el keynote para empresas del BlackBerry World 2011, siendo el del lado técnico de la empresa y aunque es bueno verlos a los dos juntos, para este evento es más común ver a Balsillie. Naturalmente, esto implica que los inversionistas castiguen acciones en Wall Street.

Retomando sobre equipos nuevos, en particular del lado del BlackBerry OS, por lo menos sabemos que oficialmente se lanzará el BlackBerry Bold 9900 con OS 7. Si asumimos correctamente que los otros equipos (Monaco, Monza, Torch 2, Apollo) sean lanzados para este mismo año con un hardware más avanzado como se rumora, sería bueno hacer el mismo cuando llegó el OS 5, hacer que estos equipos estén listos para upgrade a QNX cuando esté disponible.

Por el momento solo nos toca esperar y RIM ponerse en las pilas, la competencia está fuerte y solo que estés en juego, oportunidades quedan.

Tags: Blackberry, Q1 2012, Resultados, RIM

Jesús Nieves

Sobre el Autor

Un hombre fuerte no necesita saber su futuro, él lo crea. Amante del Blogging, la música, la tecnología y el vacilón. Fanático de Linux y critico tecnológico. Además también soy editor de ESMANDAU

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