Friday, December 2, 2011

Research in Motion (RIM) Will Fail to Meet Year-End Guidance. Large PlayBook Writedown Costs the Firm Millions.

Research in Motion (RIM), dips below $17 U.S. per share in pre-market trading on the Nasdaq. The company has announced that it will be forced to take a $485 million write-down on the sale of over 150,000 PlayBook tablets and their inventories. It no longer expects to hit its full-year guidance of $5.25 - $6.00, but will still be profitable.

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