BlackBerry maker Research In Motion (RIM) posted strong growth in fourth-quarter revenue and profit but saw its share price fall due to sales falling short of expectations. Revenue for the fourth quarter of fiscal 2010 was US$4.08 billion, an 18 percent year-on-year increase. However, it was below a previous company forecast of between US$4.2 billion and US$4.4 billion and was short of the US$4.31 billion expected by analysts surveyed by Thomson Reuters. Revenues and shipments missed RIM’s previous forecast because of reductions in inventory levels at operators and a slightly lower than expected average selling price of US$311. As a result, RIM’s shares declined by about 5 percent in aftermarket trading yesterday. Net income came in at US$710.1 million (US$1.27 a share), up 37 percent from a year earlier and almost in line with analyst predictions of US$1.28 per share. RIM shipped 10.5 million devices in the fourth quarter and added 4.9 million net new BlackBerry subscribers, taking its total account base to over 41 million. The revenue breakdown for the quarter was approximately 80 percent for devices, 16 percent for service, 2 percent for software and 2 percent for other revenue.

For the full fiscal year ending February 27, 2010, revenue was up 35 percent at US$14.95 billion. Net income came in at US$2.46 billion, a 29.8 percent increase on fiscal 2009. For the current quarter, the first quarter of fiscal 2011 ending May 29, revenue is expected to be in the range of US$4.25 billion to US$4.45 billion. The company said it expects to ship between 11.2 million and 11.8 million BlackBerrys in the quarter with net subscriber additions of between 4.9 million and 5.2 million. Earnings per share are expected to be in the range of US$1.31 to US$1.38 per share diluted. “We are off to a great start in fiscal 2011 and expect strong shipments, revenue, subscriber and earnings growth in Q1,” said Jim Balsillie, co-CEO, in a statement. “We are also very excited about our portfolio of products and services for the coming year and we continue to see exceptional opportunity for sustained growth.” The Financial Times reports that Balsillie also told analysts: “If you saw the [product] roadmap, you would be blown away.”