Research In Motion reported a fourth-quarter loss Tuesday after the BlackBerry wireless e-mail device maker paid a hefty charge to settle a patent infringement lawsuit with NTP Inc.
But investors focused mainly on weaker than expected revenues in the quarter and soft sales forecasts, sending the stock down almost 6 percent in after-hours trade. RIM reported a loss of $2.6 million, or 1 cent per share, in the fourth quarter, ended February 26, compared with net income of $41.5 million, or 23 cents a share, in the corresponding period a year earlier.
Adjusted to exclude a charge of $294.2 million to resolve the NTP litigation and a related tax recovery of $151.6 million, net income was $140.1 million, or 71 cents a share. Revenue at the Waterloo, Ontario-based firm nearly doubled to $404.8 million. Analysts had expected a profit of 65 cents a share before exceptional items, on revenues of $410 million, according to Reuters Estimates.
News source: CNN