TORONTO (AP) -- Research In Motion Ltd. said Thursday that it sold about 1 million of its critically important new BlackBerry 10 devices and returned to profitability in the most recent quarter.
The earnings provide a first glimpse of how RIM's new touch-screen Z10 is selling internationally and in Canada since its debut Jan. 31. Details on the U.S. launch are not part of the fiscal fourth quarter's financial results because the Z10 just went on sale in the U.S. last week.
In the quarter that ended March 2, RIM earned $98 million, or 19 cents a share, compared with a loss of $125 million, or 24 cents a share, a year earlier. Revenue fell 36 percent to $2.7 billion, from $4.2 billion. Analysts surveyed by FactSet had expected $2.82 billion.
"I thought they were dead. This is a huge turnaround," Jefferies analyst Peter Misek said from New York.
Misek said the Canadian company "demolished" the numbers, especially its gross margins. RIM reported gross margins of 40 percent, up from 34 percent a year earlier. The company credited higher average selling prices and higher margins for devices.
"This is a really, really good result," Misek said. "It's off to a good start."
TeleCommunication Systems' Embedded Navigation, Maps and Software Components Included in BlackBerry 10
ANNAPOLIS, Md., Feb. 1, 2013 /PRNewswire/ -- TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, today announced that its map, local search, location services and navigation application, along with software components, are included in the new BlackBerry® 10 platform.
The TCS-powered maps application ships with the new BlackBerry 10 smartphones and TCS' associated Application Program Interfaces (APIs) are also available for BlackBerry 10 developers. The mapping and navigation solution includes a series of planned updates and innovation to expand the feature set and to enhance the content and user experience.
•BlackBerry 10 smartphone customers can easily search for and locate businesses, as well as points of interest.
•The feature-rich map and navigation solution includes maps, points of interest and traffic information.
•TCS' NAVBuilder® Inside software components are available through APIs as part of the Native SDK developer toolkit for BlackBerry 10, providing third-party developers with powerful, easy-to-use functions that incorporate maps and a range of location-aware content for their applications.
Jay Whitehurst, senior vice president, Commercial Software Group, TCS, said:
"BlackBerry has embarked on an ambitious path with the development and release of the BlackBerry 10 platform, and we are delighted to be partnering with them. Navigation and LBS components are key requirements for all smartphones today. For TCS, the launch of the new BlackBerry10 smartphones will allow us to reach a truly global audience, and we are proud to be able to work with such a leading brand in the mobile space."