Yellowjackets finale recap KFC Beyond Fried Chicken Xbox Series S is on sale At-home COVID tests N95, KN95, KF94 masks Navient student loan settlement

RIM posts loss, lowers sales outlook

update BlackBerry maker Research In Motion reports a second-quarter net loss of $14.3 million, matching estimates, and lowers its sales outlook.

update BlackBerry maker Research In Motion on Thursday reported a second-quarter loss that matched analysts' estimates, but lowered its sales outlook for the rest of the year.

The company posted a net loss of $14.3 million, or 18 cents per share, on revenue of $73.4 million for the three months ended August 31. That compares with a loss of $17.5 million, or 22 cents per share, on revenue of $80 million in the same quarter a year ago.

RIM's net loss matched analyst expectations of a loss of 18 cents per share, according to consensus estimates compiled by First Call.

"RIM achieved strong BlackBerry subscriber growth during the second quarter while steadily progressing the development and testing of new products and services with carrier partners around the world," co-CEO Jim Balsillie said in a statement. "We continue to feel confident in our competitive position and business plan looking forward."

The number of BlackBerry subscribers increased by about 48,000 during the quarter, to 403,000 at Aug. 31, the company said.

In a conference call with analysts, RIM said that sales for the current quarter and rest of the year will fall short of earlier estimates as the company pushes out several product launches. RIM said the launch of its first product for Code Division Multiple Access (CDMA) networks and other new releases will now come late in the current quarter as opposed to early in the quarter as the company had originally planned.

The company said it recorded a $4.9 million expense during the second quarter associated with its patent litigation. RIM has sued rival Good Technology several times and also launched a patent-infringement suit against handheld maker Handspring earlier this month.

RIM said that it also spent $20 million in cash on three acquisitions during the quarter. These include the purchase of the assets of Slangsoft, whose technology will be used to enable foreign-language input on its handhelds. The company said the acquisition of Arizan will help RIM better handle mail attachments, while TeamOn Systems will add expertise in giving individuals better access to various e-mail systems.