Revenue for the first quarter of fiscal 2008 was $1.082 billion, up 16.3% from $930.4 million in the previous quarter and up 76.5% from $613.1 million in the same quarter of last year. The revenue breakdown for the quarter was approximately 76% for devices, 16% for service, 5% for software and 3% for other revenue. During the quarter, RIM shipped approximately 2.4 million devices.
The total number of BlackBerry subscriber accounts in the quarter increased by approximately 1.2 million to over 9 million total subscriber accounts.
GAAP net income for the quarter was $223.2 million, or $1.17 per share diluted, as compared with net income of $187.4 million, or $0.98 per share diluted, in the prior quarter. Adjusted net income excluding stock option expense of $5.3 million was $228.5 million, or $1.20 per share diluted. The adjusted net income and earnings per share do not have any standardized meaning prescribed by GAAP and therefore are unlikely to be comparable to similar measures presented by other issuers. These adjusted measures should be considered in the context of RIM’s GAAP results. This is the last quarter that RIM will be reporting net income and earnings per share adjusted for stock option expense.
Revenue for the second quarter of fiscal 2008 ending September 1, 2007 is expected to be in the range of $1.3-$1.365 billion. Subscriber account additions in the second quarter are expected to be in the range of 1.325-1.375 million. GAAP earnings per share for the second quarter are expected to be in the range of $1.37-$1.49 diluted or 45-49 cents per share diluted on a post-split basis, factoring the effective 3-for-1 stock split announced separately today.
The total of cash, cash equivalents, short-term and long-term investments was $1.56 billion as at June 2, 2007, compared to $1.41 billion at the end of the previous quarter, an increase of $150 million over the prior quarter.