BlackBerry maker Research In Motion on March 29 posted a quarterly loss - disappointing first results for the firm's new chief executive, who moved to shake up the struggling company's top ranks.
The Waterloo, Ontario-based firm reported a net loss of $125 million for its fiscal fourth quarter to March 03, compared with a profit of $418 million a year earlier.
That dragged down the full fiscal 2012 profit to $1.16 billion, down sharply from $3.4 billion a year earlier as RIM battled against Apple's iPhones and iPads and an onslaught of Android-powered devices.
RIM also said Jim Balsillie, a co-founder and co-chief executive until his resignation in January, would step down from the board, completing his retirement from the company.
In addition to the Balsillie departure, RIM said David Yach will be retiring from his role as chief technology officer and Jim Rowan, chief operating officer for global operations, "has decided to pursue other interests."
The results provided a rocky start for chief operating officer Thorsten Heins, who was named president and CEO after the resignation of Balsillie and co-CEO Mike Lazaridis following months of investor pressure for a change.
"I have assessed many aspects of RIM's business during my first 10 weeks as CEO," Heins said in a statement.
"I have confirmed that the company has substantial strengths that can be further leveraged to improve our financial performance, including RIM's global network infrastructure, a strong enterprise offering and a large and growing base of more than 77 million subscribers."
During the past quarter, RIM shipped some 11.1 million BlackBerry smartphones - down 21 percent from the previous quarter - and over 500,000 BlackBerry PlayBook tablets. Analysts had expected shipments of 11.4 million BlackBerry devices.
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