“Shares of Research in Motion (RIMM) [were today] halted pending a news announcement,” Tiernan Ray reports for Barron’s.
“In a statement, CEO Thorsten Heins said that he was providing a business update, as previously promised. He said RIMM will ‘likely have an operating loss’ for the fiscal Q1 that ends this month. Analysts have been modeling 42 cents per share in non-GAAP profit on operating income of $264 million, according to FactSet,” Ray reports. “Heins said the company’s financial performance will be ‘challenging’ for the next few quarters.”
Ray reports, “The shares have resume trading and are down $1.39, or almost 13%, at $9.82.”
Read beleaguered RIM’s full statement here.
MacDailyNews Take: Forget Thorsten Heins, beleaguered RIM would be just as well off with Thurston Howell, III at the helm (maybe even a bit better off).
Seriously, though, Heins’ one real duty is simply to contain the mess as well as possible until a sucker, er… buyer can be found, if ever. RIM is the Exxon Valdez of the smartphone industry.
Beleaguered RIM to eliminate 6,500 employees by early next year, sources say – May 29, 2012
Beleaguered RIM slips amidst talk of unsold inventory write-down – May 29, 2012
Beleaguered RIM to axe at least 2,000 jobs – May 27, 2012
Beleaguered RIM’s head of global sales departs BlackBerry maker – May 23, 2012
Beleaguered RIM misses badly on revenue, EPS, unit shipments; Former half-CEO Balsillie resigns; CTO, COO also out – March 29, 2012
Another senior executive exits beleaguered Research In Motion – October 28, 2011
Two more senior staff exit beleaguered BlackBerry maker RIM – September 29, 2011