“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.
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