NEW YORK: Research In Motion (RIM) reported record Blackberry sales on Thursday, but shares in the Canadian handset maker plunged on an outlook that fell short of the expectations of Wall Street analysts.
RIM shares were down 10.75 percent in after-hours trading after gaining 3.17 percent during the day on Wall Street to close at $64.09.
The Waterloo, Ontario-based company reported a net profit of $934 million for the fourth quarter of its fiscal year compared with $710 million in the same quarter a year ago.
Revenue for the quarter which ended on February 26 was $5.6 billion, up 36 percent from the same quarter a year ago. For fiscal 2011, RIM said revenue was $19.9 billion, up 33 percent from the previous year.
RIM said it expected revenue in the first quarter of fiscal 2012 of between $5.2 billion and $5.6 billion and earnings per share of $1.47 to $1.55.
Analysts had been expecting $5.6 billion and $1.65 a share.
RIM said the guidance range reflected lower average selling prices for handsets in the current quarter, and increased investment in research, development, sales and marketing of its PlayBook tablet computer.
The range was wider than usual because of "the risk of potential disruption in RIM's supply chain as a result of the recent earthquake in Japan," it added.
RIM will begin selling the PlayBook, its iPad rival, on April 19.
RIM reported record Blackberry shipments of 52.3 million for fiscal 2011, up 43 percent over a year ago. It said 14.9 million BlackBerry smart phones were shipped in the fourth quarter.
"We are pleased to report record shipments and financial performance in fiscal 2011," RIM co-chief executive Jim Balsillie said in a statement.
"As we enter fiscal 2012, RIM is in an excellent position to benefit from the continuing convergence of the mobile communications and mobile computing markets," Balsillie said.
"We are laying a strong foundation for RIM's expanding market opportunity through focused investments and we are extremely excited about our smart phone, tablet and platform roadmaps," he said.
RIM announced meanwhile that the PlayBook will support software applications written for Google's Android operating system.
RIM president and co-chief executive Mike Lazaridis said the move will "provide our users with an even greater choice of apps and will also showcase the versatility of the platform.
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