RIM 3Q Earnings Up on Subscriber Growth

Research in Motion Ltd., the Waterloo, Ontario-based maker of the Blackberry wireless messaging device, said earnings rose in the third quarter on strong subscriber growth and despite the impact of an ongoing patent dispute. Net income rose to $120.1 million, or 61 cents per share, from $90.4 million, or 46 cents per share. The latest quarter includes items that in the aggregate reduced earnings by 10 cents per share, including a writedown and charge related to the litigation and failed settlement involving RIM and patents held by NTP Inc.

Adjusted net income of 71 cents per share topped the 65-cent mean estimate of analysts surveyed by Thomson Financial.

Revenue rose 53 percent to $560.6 million from $365.9 million and was above analysts’ forecasts of $549 million.

RIM said it added about 645,000 new subscriber accounts during the quarter and at the end of the quarter total BlackBerry subscribers were 4.3 million.

RIM maintained its forecast for earnings of 76 cents to 81 cents per share for the fourth quarter on revenue of $590 million to $620 million, but lowered its forecast for subscriber additions to a range of 700,000 to 750,000.

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