Today RIM announced their Q1 earnings where they addressed some issues and their plans for the future. I had the chance to listen in and took a few notes and below is some of what I remember from it. Some things said were not much of a surprise to everyone is that RIM is having a tough time with their transition from their old software system to the QNX system to power what they are now calling QNX Super Phones. Both Co-CEO’s were present during the earnings call which is a bit out of normal for them and they both also answer questions during the Q&A session.
Some of the key points from the call include:
- A head count reduction – most likely this will translate into lay offs and possibly restructuring within the company.The two Co CEO’s said this was not the case but they did not seem to have good words to explain the announcement.
- RIM shipped an estimated 500,000 BlackBerry PlayBook’s
- RIM encountered problems with the new OS7 during the certification process which caused delays
- BlackBerry 7 and device launch will see a better world wide launch consitency
- 4G PlayBook is delayed until fall
- BB7 devices will miss back to school specials
- QNX is the future platform for RIM- meaning the OS for the next generation of high end devices is on the transition stage and they are making progress on it which is being developed based on the same platform of the PlayBook tablet OS.
- The company has grown fast and the job of Co-CEO’s has increased in demand especially managing the acquisitions.
RIM’s guidance for the future looks a bit cloudy, with expected earnings of $4.2 – $4.8 billion in revenues, with earnings per share dropping to $0.75 – $1.05 . If you like to listen to the call yourself there will be a replay of the conference call will also be available at approximately 7 pm by dialing (+1)416-640-1917 and entering passcode 4445546#. This replay will be available until midnight ET June 30, 2011.