RIM cuts Q1 earnings and revenue forecast

by Volker Weber

WATERLOO, ONTARIO--(Marketwire - April 28, 2011) - Research In Motion Limited (RIM) (NASDAQ:RIMM)(TSX:RIM) today provided an update on its financial guidance for the first quarter of fiscal 2012 ending May 28, 2011 (all figures in U.S. dollars and U.S. GAAP).

RIM now expects fully diluted earnings per share for Q1 to be in the range of $1.30-$1.37, lower than the range of $1.47-$1.55 previously forecasted by RIM on March 24, 2011. This shortfall is primarily due to shipment volumes of BlackBerry smartphones that are now expected to be at the lower end of the range of 13.5-14.5 million forecasted in March and a shift in the expected mix of devices shipped towards handsets with lower average selling prices.

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