RIM to sack 5000
By Ria Sharma

Research In Motion Limited (RIM) has reported first quarter results for the three months ended June 2, 2012

Highlights:

- Cash, cash equivalents, short-term and long-term investments increased to $2.2 billion at the end of the first quarter

- Cash flow from operations was approximately $710 million in the first quarter

- Revenue of $2.8 billion in Q1, down 33% from $4.2 billion in the prior quarter

- GAAP net loss in Q1 of $518 million or $0.99 per share diluted; adjusted net loss of $192 million or $0.37 per share diluted

- Shipments of BlackBerry smartphones were 7.8 million and shipments of BlackBerry PlayBook tablets were approximately 260,000

- BlackBerry 10 smartphone launch now scheduled for Q1 of calendar 2013

- Restructuring efforts underway that will include a workforce reduction of approximately 5,000 employees as part of RIM’s efforts to realize over $1 billion in cost savings, based on RIM’s Q4 FY2012 run rate

- Launched World Tour BlackBerry Jam developer sessions in 23 countries resulting in strong adoption and support by application and developer partners for BlackBerry 10 platform

- BlackBerry App World continues to grow with over 89,000 applications available

- The overall BlackBerry subscriber base continued to grow, and the subscriber base grew in all regions except for North America