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For
the
month of
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December_______________________________________
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2007_____________
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Research
In Motion Limited
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(Translation
of registrant’s name into English)
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295
Phillip Street,
Waterloo,
Ontario, Canada
N2L
3W8
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(Address
of principal executive offices)
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Form 20-F _______________ |
Form
40-F X
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Yes
__________
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No X
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Document
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Page
No.
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1.
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RESEARCH
IN MOTION REPORTS THIRD QUARTER RESULTS
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5
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Media
Contact:
Courtney
Flaherty
Brodeur
for RIM
(212)
515-1971
cflaherty@brodeur.com
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Investor
Contact:
RIM
Investor Relations
(519)
888 - 7465
investor_relations@rim.com
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For
the three months ended
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||||||||||||
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December
1, 2007
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September
1, 2007
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December
2, 2006
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||||||||||
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Revenue
|
$ |
1,672,529
|
$ |
1,372,250
|
$ |
835,053
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||||||
|
Cost
of sales
|
824,657
|
667,833
|
382,422
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|||||||||
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Gross
margin
|
847,872
|
704,417
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452,631
|
|||||||||
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Gross
Margin %
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50.7 | % | 51.3 | % | 54.2 | % | ||||||
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Expenses
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||||||||||||
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Research
and development
|
92,150
|
88,171
|
61,184
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|||||||||
|
Selling,
marketing and administration
|
238,175
|
197,943
|
146,569
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|||||||||
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Amortization
|
27,653
|
25,350
|
20,334
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|||||||||
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357,978
|
311,464
|
228,087
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||||||||||
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Income
from operations
|
489,894
|
392,953
|
224,544
|
|||||||||
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Investment
income
|
23,816
|
18,984
|
12,666
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|||||||||
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Income
before income taxes
|
513,710
|
411,937
|
237,210
|
|||||||||
|
Provision
for income taxes
|
||||||||||||
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Current
|
141,457
|
137,643
|
50,456
|
|||||||||
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Deferred
|
1,792
|
(13,391 | ) |
11,562
|
||||||||
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143,249
|
124,252
|
62,018
|
||||||||||
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Net
Income
|
$ |
370,461
|
$ |
287,685
|
$ |
175,192
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||||||
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Earnings
per share
|
||||||||||||
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Basic
|
$ |
0.66
|
$ |
0.51
|
$ |
0.32
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||||||
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Diluted
|
$ |
0.65
|
$ |
0.50
|
$ |
0.31
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||||||
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Weighted
average number of common shares outstanding (000's)
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||||||||||||
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Basic
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560,400
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558,991
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552,963
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|||||||||
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Diluted
|
573,700
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572,165
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569,463
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|||||||||
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Total
common shares outstanding (000's)
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561,003
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559,820
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556,803
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|||||||||
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As
at
|
December
1,
2007
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March
3,
2007
|
||||||
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Assets
|
||||||||
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Current
|
||||||||
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Cash
and cash equivalents
|
$ |
1,189,995
|
$ |
677,144
|
||||
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Short-term
investments
|
407,173
|
310,082
|
||||||
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Trade
receivables
|
1,037,326
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572,637
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||||||
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Other
receivables
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78,262
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40,174
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||||||
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Inventory
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339,999
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255,907
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||||||
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Other
current assets
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127,780
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41,697
|
||||||
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Deferred
income tax asset
|
66,832
|
21,624
|
||||||
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3,247,367
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1,919,265
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|||||||
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-
|
||||||||
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Investments
|
536,127
|
425,652
|
||||||
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Capital
assets
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634,027
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487,579
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||||||
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Intangible
assets
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173,370
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138,182
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||||||
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Goodwill
|
114,455
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109,932
|
||||||
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Deferred
income tax asset
|
4,499
|
8,339
|
||||||
| $ |
4,709,845
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$ |
3,088,949
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|||||
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Liabilities
|
||||||||
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Current
|
||||||||
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Accounts
payable
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$ |
229,649
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$ |
130,270
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||||
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Accrued
liabilities
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545,196
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287,629
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||||||
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Income
taxes payable
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323,672
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99,958
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||||||
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Deferred
revenue
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36,038
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28,447
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||||||
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Current
portion of long-term debt
|
336
|
271
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||||||
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1,134,891
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546,575
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|||||||
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Long-term
debt
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7,209
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6,342
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||||||
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Deferred
income tax liability
|
48,729
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52,532
|
||||||
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Income
taxes payable
|
30,285
|
-
|
||||||
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1,221,114
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605,449
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|||||||
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Shareholders’
Equity
|
||||||||
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Capital
stock
|
2,150,770
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2,099,696
|
||||||
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Retained
earnings
|
1,240,593
|
359,227
|
||||||
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Paid-in
capital
|
72,854
|
36,093
|
||||||
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Accumulated
other comprehensive income (loss)
|
24,514
|
(11,516 | ) | |||||
|
3,488,731
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2,483,500
|
|||||||
| $ |
4,709,845
|
$ |
3,088,949
|
|||||
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For
the three
|
For
the nine
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|||||||
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months
ended
|
months
ended
|
|||||||
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December
1, 2007
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December
1, 2007
|
|||||||
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Cash
flows from operating activities
|
||||||||
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Net
income
|
$ |
370,461
|
$ |
881,366
|
||||
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Items
not requiring an outlay of cash:
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||||||||
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Amortization
|
47,861
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126,854
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||||||
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Deferred
income taxes
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1,564
|
(60,587 | ) | |||||
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Income
taxes payable
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1,677
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30,285
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||||||
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Stock-based
compensation
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9,100
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23,400
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||||||
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Other
|
10,122
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11,111
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||||||
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Net
changes in working capital items
|
79,784
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(41,745 | ) | |||||
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Net
cash provided by operating activities
|
520,569
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970,684
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||||||
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Cash
flows from financing activities
|
||||||||
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Issuance
of share capital
|
23,268
|
46,451
|
||||||
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Other
paid-in capital
|
3,353
|
9,626
|
||||||
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Excess
tax benefits from stock-based compensation
|
3,885
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8,358
|
||||||
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Repayment
of long-term debt
|
(81 | ) | (221 | ) | ||||
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Net
cash provided by financing activities
|
30,425
|
64,214
|
||||||
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Cash
flows from investing activities
|
||||||||
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Acquisition
of investments
|
(177,320 | ) | (359,818 | ) | ||||
|
Proceeds
on sale or maturity of investments
|
18,102
|
101,197
|
||||||
|
Acquisition
of capital assets
|
(96,522 | ) | (242,270 | ) | ||||
|
Acquisition
of intangible assets
|
(41,027 | ) | (64,484 | ) | ||||
|
Business
acquisitions
|
(3,000 | ) | (6,200 | ) | ||||
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Acquisition
of short-term investments
|
(426,475 | ) | (1,049,961 | ) | ||||
|
Proceeds
on sale and maturity of short-term investments
|
527,038
|
1,109,187
|
||||||
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Net
cash used in investing activities
|
(199,204 | ) | (512,349 | ) | ||||
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Effect
of foreign exchange loss on cash and cash
equivalents
|
(9,698 | ) | (9,698 | ) | ||||
|
Net
increase in cash and cash equivalents
|
||||||||
|
for
the period
|
342,092
|
512,851
|
||||||
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Cash
and cash equivalents, beginning of period
|
847,903
|
677,144
|
||||||
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Cash
and cash equivalents, end of period
|
$ |
1,189,995
|
$ |
1,189,995
|
||||
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As
at
|
December 1,
2007
|
September
1, 2007
|
||||||
|
Cash
and cash equivalents
|
$ |
1,189,995
|
$ |
847,903
|
||||
|
Short-term
investments
|
407,173
|
493,941
|
||||||
|
Investments
|
536,127
|
386,489
|
||||||
| $ |
2,133,295
|
$ |
1,728,333
|
|||||
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Research
In Motion Limited
|
|||||
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(Registrant)
|
|||||
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Date:
|
December
20, 2007
|
By:
|
/s/
Edel Ebbs
|
||
|
(Signature)
|
|||||
|
Edel
Ebbs
Vice
President, Investor Relations
|
|||||