Research In Motion (Nasdaq: RIMM) met lowered analyst estimates in the first quarter.
After market close Thursday, the provider of technology for wireless devices reported fiscal first quarter net income of $388,000, or break-even on a per-share basis. That was in line with the consensus estimate of First Call's survey of 15 analysts.
First quarter revenue increased to $27.1 million, up 5 percent sequentially and up 67 percent year-over-year. About half of the company's revenue came from the BlackBerry wireless e-mail service, 25 percent from the sale of wireless handheld devices, and the remainder from software and radio modems.
Analysts in April scaled back their expectations for Research In Motion.
Research and development costs of $4.5 million represented 17 percent of revenue, compared to 14 percent in the fourth quarter and 15 percent in the comparable period a year earlier.
Sales, marketing and administrative costs rose to $10.4 million compared to $5.1 million in the fourth quarter and $2.3 million in the year-ago period. Research In Motion spent more on marketing to promote the BlackBerry brand; hired more personnel in sales, marketing and customer support; and took part in marketing programs with distribution partners.>