Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

CS First Boston Cuts Research In Motion Outlook


Credit Suisse First Boston cuts estimates on Research In Motion (RIMM).

Analyst Tim Long says fourth quarter results came in at the low end of the company's guidance. He notes the favorable software/services mix drove 5% gross margin improvement -- offsetting the impact of falling average selling prices and rising deactivations. He cut his $450 million fiscal 2003 (Feb.) revenue estimate to to $375 million, and widened his $0.13 fiscal 2003 loss to a $0.45 loss to reflect further general packet radio service (GPRS) pushouts, as well as growing operating expenditures ahead of new customer wins. Long also notes that his new estimates model a 50% sales ramp into the second half of fiscal 2003, coinciding with his forecast for a more aggressive GPRS launches in the second and third quarters. He maintains his buy rating.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus