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RIM gathers fruits of strong pager sales

The maker of the Blackberry email pager reports a narrower-than-expected second-quarter loss on sales that more than doubled from a year ago.

RIM Blackberry
Research in Motion (RIM), the maker of the Blackberry email pager, today reported a narrower-than-expected second-quarter loss on sales that increased 57 percent from the prior quarter and more than doubled those of a year ago.

For the quarter ended Aug. 31, RIM lost $1.6 million, or 2 cents per share, on revenue of $42.5 million. In the year-ago quarter, RIM earned $2.3 million on sales of $19.3 million. Analysts had been expecting RIM to lose 3 cents per share, according to First Call/Thomson Financial.

In the first quarter, RIM earned $400,000 on revenue of $27.1 million.

"The BlackBerry wireless email business continues to grow rapidly," RIM chairman Jim Balsillie said in a statement. "Acceptance of BlackBerry as a mainstream business tool has been achieved with both users and IT departments. During this next phase, our distribution partners will help RIM to further penetrate the enterprise market and enter the consumer market."

Sales, marketing and administration expenses rose to $15.7 million, or 37 percent of revenue, for the quarter compared to $3 million, or 16 percent of revenue, in the second quarter of last year.

RIM said the higher costs were due to planned increases in cooperative advertising programs and a larger work force.