RIM’s year-end results looking impressive


Looks like our boys in blue have done it again. Even with the bad news that was their Q2 results from late last September, analysts are still saying that RIM will be looking at strong year-end results.

These numbers’ll be presented during their traditional conference call on Wednesday, but the Globe and Mail has some insight for us already.

RIM is now worth in excess of $27-billion, more than each of its three major Canadian carrier partners: BCE Inc., Rogers Communications Inc. or Telus Corp.

…The consensus on the Street is that RIM will post earnings of $3.21 a share for its fiscal year just ended and $4.40 a share in the next fiscal year, representing a 37-per-cent increase.

And an analyst is looking at RIM’s stock hitting the $175 mark in no time. I remember back in September when we were looking at numbers around $80-90. I don’t think I’m not the only one kicking myself right now.

Lawrence Harris of Oppenheimer & Co., is one of a minority of analysts that rates RIM’s stock “neutral.” He notes the shares are relatively expensive on a price-earnings basis and questions whether forthcoming models of the BlackBerry will cannibalize sales of the Pearl and the 8800.

But he too raised his share profit estimates last week based on strong demand for RIM’s products. He said he believes that customers have an even bigger appetite for the new BlackBerry 8800 device than they showed for the Pearl. “We’re beginning to warm to the story.”