FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of
Foreign Private Issuer
Pursuant
to
Rule 13a-16 or 15d-16 under
the
Securities Exchange Act of 1934
|
For
the month of
|
October
|
2007
|
|
|
Research
In Motion Limited
|
|||
|
(Translation
of registrant’s name into English)
|
|||
|
295
Phillip Street,
Waterloo,
Ontario, Canada
N2L
3W8
|
|||
|
(Address
of principal executive offices)
|
|||
Indicate
by check mark whether the
registrant files or will file annual reports under cover Form 20-F or Form
40F.
|
Form
20-F
|
__________ |
Form
40-F
|
____X_____
|
Indicate
by check mark if the
registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule
101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule
101(b)(7):
Indicate
by
check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing
the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
|
Yes
|
__________
|
No
|
____X_____
|
If
“Yes”
is
marked, indicate below the
file number assigned to the registrant in connection with Rule
12g3-2(b):
82-_______________
82-_______________
DOCUMENT
INDEX
|
Document
|
Page
No.
|
|
|
1.
|
RESEARCH
IN MOTION REPORTS SECOND QUARTER RESULTS
|
7
|
SIGNATURES
Pursuant
to the requirement of the
Securities Exchange Act of 1934, the registrant has duly caused this report
to
be signed on its behalf by the undersigned, thereunto duly
authorized.
|
Research
In Motion Limited
|
|||||
|
(Registrant)
|
|||||
|
Date:
|
October
4, 2007
|
By:
|
/s/
Edel
Ebbs
|
||
|
(Signature)
|
|||||
|
Edel
Ebbs
Vice
President, Investor Relations
|
|||||
October
4, 2007
RESEARCH
IN MOTION REPORTS SECOND QUARTER RESULTS
Waterloo,
ON– Research In Motion Limited (RIM) (Nasdaq: RIMM; TSX: RIM), a
world leader in the mobile communications market, today reported second quarter
results for the three months ended September 1, 2007 (all figures in U.S.
dollars and U.S. GAAP).
Revenue
for
the second quarter of fiscal 2008 was $1.37 billion, up 27% from $1.08 billion
in the previous quarter and up 108% from $658.5 million in the same quarter
of
last year. The revenue breakdown for the quarter was approximately 78% for
devices, 15% for service, 4% for software and 3% for other
revenue. Approximately 1.45 million BlackBerry® subscriber accounts
were added in the quarter and over 3 million devices were
shipped. The total BlackBerry subscriber account base at the end of
the second quarter was approximately 10.5 million.
"RIM’s
second quarter results were exceptionally strong on all metrics including
revenue, subscriber account additions and net income," said Jim Balsillie,
Co-CEO at RIM. "This growth is fueled by the depth of the BlackBerry product
portfolio and the continued diversification of our business across market
segments and geographies. With over ten million BlackBerry subscriber
accounts and over twenty million handsets shipped, we are pleased with our
position in the market today and we expect recent product and market initiatives
to extend our business momentum through the remainder of the fiscal
year."
Income
for
the quarter was $287.7 million, or $0.50 per share diluted, compared with net
income of $223.2 million, or $0.39 per share diluted, in the prior quarter
and
net income of $140.2 million, or $0.25 per share diluted, in the same quarter
last year. Please note that the earnings per share reflect the
effective 3-for-1 stock split that was implemented in the quarter.
Revenue
for
the third quarter of fiscal 2008 ending December 1, 2007 is expected to be
in
the range of $1.60-1.67 billion. Subscriber account additions in the
third quarter are expected to be approximately 1.65 million. Earnings
per share for the third quarter are expected to be in the range of $0.59-0.63
per share diluted.
The
total of
cash, cash equivalents, short-term and long-term investments was $1.73 billion
as at September 1, 2007, compared to $1.56 billion at the end of the previous
quarter, an increase of $166 million over the prior quarter. Uses of
cash in the quarter included capital expenditures of approximately $79
million.
Highlights
of the Second Quarter Include:
|
·
|
Sprint
and Alltel launched the BlackBerry 8830 World Edition in the
U.S.
|
|
·
|
Bell
Mobility and TELUS launched the BlackBerry 8830 World Edition in
Canada.
|
|
·
|
Telefónica
launched the BlackBerry Curve in Argentina, Brazil, Ecuador and Chile
as
well as the BlackBerry Pearl in Mexico.
|
|
·
|
Telcel
launched the BlackBerry Curve and the red BlackBerry Pearl in
Mexico.
|
|
·
|
TIM
launched the BlackBerry 8800 in
Brazil.
|
|
·
|
Entel
PCS launched the BlackBerry 8800 and the BlackBerry Curve in
Chile.
|
|
·
|
The
Carphone Warehouse launched the BlackBerry Pearl, the BlackBerry
Curve and
the BlackBerry 8800 in the UK.
|
|
·
|
Vodafone
launched the BlackBerry Curve 8310 in the UK, Germany, Portugal,
Croatia,
Slovenia and The Netherlands.
|
|
·
|
O2
launched the BlackBerry Curve in the UK and
Ireland.
|
|
·
|
Orange
launched the BlackBerry 8820 in the UK, Switzerland, Belgium, Poland,
Romania, Slovakia and Spain.
|
|
·
|
SFR
launched the BlackBerry 8820 and the BlackBerry Curve 8310 in
France.
|
|
·
|
mobilkom
launched the BlackBerry Curve 8310 in
Austria.
|
|
·
|
Swisscom
launched the BlackBerry Curve 8310 in
Switzerland.
|
|
·
|
TIM
Italy launched the BlackBerry Curve and the red BlackBerry Pearl
in
Italy.
|
|
·
|
TMN
launched the BlackBerry Curve in
Portugal.
|
|
·
|
Vodafone
launched the BlackBerry Pearl and the BlackBerry 8800 in
Turkey.
|
|
·
|
Avea
launched the BlackBerry Curve and the BlackBerry 8820 in
Turkey.
|
|
·
|
Turkcell
launched the BlackBerry Curve in Turkey.
|
|
·
|
Vodafone
launched the BlackBerry Pearl in Egypt.
|
|
·
|
DoCoMo
launched Japanese text input support for the BlackBerry 8707h and
BlackBerry Enterprise Server.
|
|
·
|
3Hong
Kong launched the BlackBerry Curve, the BlackBerry 8820 and the red
BlackBerry Pearl in Hong Kong.
|
|
·
|
SmarTone-Vodafone
launched the BlackBerry Curve 8310, the BlackBerry 8820 and the red
BlackBerry Pearl in Hong Kong.
|
|
·
|
Peoples,
PCCW and CSL launched the BlackBerry Curve in Hong
Kong.
|
|
·
|
Bharti
launched the BlackBerry Curve and the BlackBerry 8820 in
India.
|
|
·
|
Vodafone
Essar launched the BlackBerry Curve 8310 and the BlackBerry 8820
in
India.
|
|
·
|
Optus
launched the BlackBerry Curve in
Australia.
|
|
·
|
Vodafone
launched the BlackBerry Curve 8310 in
Australia.
|
|
·
|
M1
launched the BlackBerry Curve in
Singapore.
|
|
·
|
SingTel
and StarHub launched the BlackBerry Curve and the BlackBerry 8820
in
Singapore.
|
|
·
|
BlackBerry
ISV Alliance members continued to build upon the BlackBerry platform
with
a range of new products and services that help customers extend their
wireless data strategies beyond wireless
email.
|
|
·
|
BlackBerry
smartphones are now available around the world from over 300
carriers.
|
Highlights
Subsequent to Quarter End Include:
|
·
|
The
BlackBerry Enterprise Solution achieved Common Criteria
Certification.
|
|
·
|
RIM
introduced the BlackBerry Pearl 8130.
|
|
·
|
RIM
and Telefónica introduced the BlackBerry Pearl 8120 and BlackBerry Unite!
software.
|
|
·
|
AT&T
launched the BlackBerry 8820 in the U.S.
|
|
·
|
T-Mobile
launched three new BlackBerry Pearl colors and the BlackBerry Curve
8320
in the U.S.
|
|
·
|
Rogers
launched the BlackBerry Curve 8310 in
Canada.
|
|
·
|
TIM
Brazil announced the BlackBerry 8310 in
Brazil.
|
|
·
|
Proximus
launched the BlackBerry Curve 8310 and the BlackBerry Pearl in
Belgium.
|
|
·
|
BASE
launched the BlackBerry Curve in Belgium.
|
|
·
|
Vodafone
launched the BlackBerry Curve 8310 in Italy and
Spain.
|
|
·
|
O2
launched the BlackBerry Curve in Germany.
|
|
·
|
MTS
and Alcatel-Lucent launched the BlackBerry solution in the
Ukraine.
|
|
·
|
Vodacom
launched the BlackBerry Curve 8310 in South
Africa.
|
|
·
|
Reliance
Communications launched the BlackBerry 8830 World Edition, the BlackBerry
8703e, the BlackBerry Curve and the BlackBerry Pearl in
India.
|
|
·
|
BPL
launched the BlackBerry Curve in Mumbai,
India.
|
|
·
|
Vodafone
launched the BlackBerry Curve 8310 in New
Zealand.
|
The
replay
of the company’s Q2 conference call can be accessed after 7 p.m. (eastern),
October 4, 2007 until midnight (eastern), October 18, 2007. It can be
accessed by dialing 416-640-1917 and entering passcode 21221688#.
The
conference will
also appear on the RIM web site, live at 5:00 pm (eastern) and archived at
http://www.rim.com/investors/events/index.shtml until midnight November 8,
2007.
About
Research In Motion (RIM)
Research In Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information including email, phone, SMS messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity. RIM’s portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry® wireless platform, the RIM Wireless Handheld™ product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq Stock Market (Nasdaq: RIMM) and the Toronto Stock Exchange (TSX: RIM). For more information, visit www.rim.com or www.blackberry.com.
Research In Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information including email, phone, SMS messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity. RIM’s portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry® wireless platform, the RIM Wireless Handheld™ product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq Stock Market (Nasdaq: RIMM) and the Toronto Stock Exchange (TSX: RIM). For more information, visit www.rim.com or www.blackberry.com.
|
Media
Contact:
Marisa
Conway
Brodeur
for RIM
212.515.1924
mconway@brodeur.com
|
Investor
Contact:
RIM
Investor Relations
519.888.7465
investor_relations@rim.com
|
###
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws, including statements relating to RIM's revenue and earnings expectations for the third quarter of fiscal 2008, anticipated growth in subscribers, anticipated growth during the fiscal year and plans relating to RIM and its carrier partners. The terms and phrases, “expected”, “growth is fueled”, ̶continued diversification”, “momentum” and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RIM believes are appropriate in the circumstances. Many factors could cause RIM's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, risks relating to RIM’s review of its historical option granting practices, the restatement of its previously filed financial statements as a result of the review, and regulatory investigations and litigation relating to these matters; the efficient and uninterrupted operation of RIM’s network operations center; risks relating to RIM's intellectual property rights; RIM's ability to enhance current products and develop new products and services; RIM's reliance on carrier partners, third-party manufacturers, third-party network developers and suppliers; and intense competition. These risk factors and others relating to RIM are discussed in greater detail in the "Risk Factors" section of RIM's Annual Information Form, which is included in its Annual Report on Form 40-F and RIM’s MD&A (copies of which filings may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on RIM's forward-looking statements. RIM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The
BlackBerry and RIM families of related marks, images and symbols are the
exclusive properties and trademarks of Research In Motion
Limited. RIM, Research In Motion and BlackBerry are registered with
the U.S. Patent and Trademark Office and may be pending or registered in other
countries. All other brands, product names, company names, trademarks
and service marks are the properties of their respective
owners.
Research
In
Motion Limited
Incorporated under the Laws of Ontario
Incorporated under the Laws of Ontario
(United
States dollars, in thousands except per share data) (unaudited)
Consolidated
Statements of Operations
|
For
the three months ended
|
||||||||||||
|
September
1,
|
June
2,
|
September
2,
|
||||||||||
|
2007
|
2007
|
2006
|
||||||||||
|
Revenue
|
$ |
1,372,250
|
$ |
1,081,911
|
$ |
658,541
|
||||||
|
Cost
of sales
|
667,833
|
521,841
|
288,456
|
|||||||||
|
Gross
margin
|
704,417
|
560,070
|
370,085
|
|||||||||
|
Gross
Margin %
|
51.3 | % | 51.8 | % | 56.2 | % | ||||||
|
Expenses
|
||||||||||||
|
Research
and development
|
88,171
|
74,934
|
55,846
|
|||||||||
|
Selling,
marketing and administration
|
197,943
|
177,483
|
116,283
|
|||||||||
|
Amortization
|
25,350
|
23,795
|
18,453
|
|||||||||
|
311,464
|
276,212
|
190,582
|
||||||||||
|
Income
from operations
|
392,953
|
283,858
|
179,503
|
|||||||||
|
Investment
income
|
18,984
|
16,447
|
12,606
|
|||||||||
|
Income
before income taxes
|
411,937
|
300,305
|
192,109
|
|||||||||
|
Provision
for income taxes
|
||||||||||||
|
Current
|
137,643
|
130,166
|
30,631
|
|||||||||
|
Deferred
|
(13,391 | ) | (53,081 | ) |
21,326
|
|||||||
|
124,252
|
77,085
|
51,957
|
||||||||||
|
Net
Income
|
$ |
287,685
|
$ |
223,220
|
$ |
140,152
|
||||||
|
Earnings
per share
|
||||||||||||
|
Basic
|
$ |
0.51
|
$ |
0.40
|
$ |
0.25
|
||||||
|
Diluted
|
$ |
0.50
|
$ |
0.39
|
$ |
0.25
|
||||||
|
Weighted
average number of common shares outstanding (000’s)
|
||||||||||||
|
Basic
|
558,991
|
557,853
|
555,162
|
|||||||||
|
Diluted
|
572,165
|
571,062
|
570,678
|
|||||||||
|
Total
common shares outstanding (000's)
|
559,820
|
558,066
|
551,424
|
|||||||||
Research
In
Motion Limited
Incorporated
under the Laws of Ontario
(United
States dollars, in thousands except per share data) (unaudited)
Consolidated
Balance Sheets
| As at |
September
1,
|
March
3,
|
||||||
|
|
2007
|
2007
|
||||||
|
Assets
|
||||||||
|
Current
|
||||||||
|
Cash
and cash equivalents
|
$ |
847,903
|
$ |
677,144
|
||||
|
Short-term
investments
|
493,941
|
310,082
|
||||||
|
Trade
receivables
|
852,568
|
572,637
|
||||||
|
Other
receivables
|
108,332
|
40,174
|
||||||
|
Inventory
|
301,393
|
255,907
|
||||||
|
Other
current assets
|
99,876
|
41,697
|
||||||
|
Deferred
income tax asset
|
64,729
|
21,624
|
||||||
|
2,768,742
|
1,919,265
|
|||||||
|
-
|
||||||||
|
Investments
|
386,489
|
425,652
|
||||||
|
Capital
assets
|
572,185
|
487,579
|
||||||
|
Intangible
assets
|
144,565
|
138,182
|
||||||
|
Goodwill
|
112,438
|
109,932
|
||||||
|
Deferred
income tax asset
|
4,960
|
8,339
|
||||||
| $ |
3,989,379
|
$ |
3,088,949
|
|||||
|
Liabilities
|
||||||||
|
Current
|
||||||||
|
Accounts
payable
|
$ |
181,860
|
$ |
130,270
|
||||
|
Accrued
liabilities
|
411,360
|
287,629
|
||||||
|
Income
taxes payable
|
212,923
|
99,958
|
||||||
|
Deferred
revenue
|
36,009
|
28,447
|
||||||
|
Current
portion of long-term debt
|
312
|
271
|
||||||
|
842,464
|
546,575
|
|||||||
|
Long-term
debt
|
6,891
|
6,342
|
||||||
|
Deferred
income tax liability
|
42,299
|
52,532
|
||||||
|
Income
taxes payable
|
28,608
|
-
|
||||||
|
920,262
|
605,449
|
|||||||
|
Shareholders’
Equity
|
||||||||
|
Capital
stock
|
2,126,098
|
2,099,696
|
||||||
|
Retained
earnings
|
870,132
|
359,227
|
||||||
|
Paid-in
capital
|
57,920
|
36,093
|
||||||
|
Accumulated
other comprehensive income (loss)
|
14,967
|
(11,516 | ) | |||||
|
3,069,117
|
2,483,500
|
|||||||
| $ |
3,989,379
|
$ |
3,088,949
|
|||||
Research
In
Motion Limited
Incorporated
under the Laws of Ontario
(United
States dollars, in thousands except per share data) (unaudited)
Consolidated
Statements of Cash Flows
|
For
the three
|
For
the six
|
|||||||
|
months
ended
|
months
ended
|
|||||||
|
September
1,
|
September
1,
|
|||||||
|
2007
|
2007
|
|||||||
|
Cash
flows from operating activities
|
||||||||
|
Net
income
|
$ |
287,685
|
$ |
510,905
|
||||
|
Items
not requiring an outlay of cash:
|
||||||||
|
Amortization
|
41,277
|
78,993
|
||||||
|
Deferred
income taxes
|
(13,356 | ) | (62,151 | ) | ||||
|
Income
taxes payable
|
311
|
28,608
|
||||||
|
Share-based
compensation
|
9,000
|
14,300
|
||||||
|
Other
|
223
|
1,019
|
||||||
|
Net
changes in working capital items
|
(98,042 | ) | (121,529 | ) | ||||
|
Net
cash provided by operating activities
|
227,098
|
450,145
|
||||||
|
Cash
flows from financing activities
|
||||||||
|
Issuance
of share capital
|
19,446
|
23,183
|
||||||
|
Other
paid-in capital
|
6,273
|
6,273
|
||||||
|
Excess
tax benefits from share-based compensation
|
3,073
|
4,473
|
||||||
|
Repayment
of long-term debt
|
(74 | ) | (140 | ) | ||||
|
Net
cash provided by financing activities
|
28,718
|
33,789
|
||||||
|
Cash
flows from investing activities
|
||||||||
|
Acquisition
of investments
|
(67,691 | ) | (182,498 | ) | ||||
|
Proceeds
on sale or maturity of investments
|
57,774
|
83,095
|
||||||
|
Acquisition
of capital assets
|
(78,995 | ) | (145,748 | ) | ||||
|
Acquisition
of intangible assets
|
(13,718 | ) | (23,457 | ) | ||||
|
Business
acquisitions
|
(3,200 | ) | (3,200 | ) | ||||
|
Acquisition
of short-term investments
|
(335,728 | ) | (623,486 | ) | ||||
|
Proceeds
on sale and maturity of short-term investments
|
321,431
|
582,149
|
||||||
|
Net
cash used in investing activities
|
(120,127 | ) | (313,145 | ) | ||||
|
Effect
of foreign exchange loss on cash and cash
equivalents
|
(30 | ) | (30 | ) | ||||
|
Net
increase in cash and cash equivalents
|
||||||||
|
for
the period
|
135,659
|
170,759
|
||||||
|
Cash
and cash equivalents, beginning of period
|
712,244
|
677,144
|
||||||
|
Cash
and cash equivalents, end of period
|
$ |
847,903
|
$ |
847,903
|
||||
|
September 1,
|
June
2,
|
|||||||
|
As
at
|
2007
|
2007
|
||||||
|
Cash
and cash equivalents
|
$ |
847,903
|
$ |
712,244
|
||||
|
Short-term
investments
|
493,941
|
456,372
|
||||||
|
Investments
|
386,489
|
394,138
|
||||||
| $ |
1,728,333
|
$ |
1,562,754
|
|||||