RealTime IT News

RIM Comes Up Short

Shares of Research In Motion sank in late trading Thursday after the company reported quarterly results that were shy of Wall Street expectations.

RIM's sales rose 39% from the year-ago quarter to $561.2 million, in line with its own lowered forecast of a month ago but $6 million below analysts' estimates. Earnings of 65 cents a share were two cents less than anticipated.

Looking ahead, RIM said it expects June quarter sales of $580-$610 million, below $625.6 million forecasts. Earnings of 62-67 cents a share would be well below 76-cent estimates.

Cash decreased from $1.6 billion to $1.25 billion in the quarter, as the company settled its long-running patent dispute with NTP that threatened to shut down its U.S. operations.

RIM shares lost 4% in late trading.

The broader market treaded water ahead of Friday's monthly jobs report.

The Nasdaq added 1 to 2361, the S&P 500 slipped 2 to 1309, and the Dow gave back 23 to 11,216. Volume declined to 2.28 billion shares on the NYSE, but rose to 2.2 billion on the Nasdaq. Decliners led 18-13 on the NYSE, and 15-14 on the Nasdaq. Upside volume was 52% on the NYSE, and 65% on the Nasdaq. New highs-new lows were 215-68 on the NYSE, and 208-38 on the Nasdaq.

Apple continued to run up on news that Microsoft Windows can now be used on Intel-based Macs.

Entrust and Websense fell on their outlooks, while Napster and UTStarcom rose on their guidance.

Intervoice lost 11% on its results.