Subject: [NEXTEL-1] The CrackBerry (aka Wackberry) Strikes Again

From: [email-masked]
Date: Thu, 08 Apr 2004 13:51:37 -0400

OUR TAKE
The CrackBerry (aka Wackberry) Strikes Again

By Alyce Lomax
April 8, 2004

The BlackBerry PDA device has been rumored to have addictive properties.
Thus, we have the slang "CrackBerry." And apparently, lots of corporate
users are hooked. Research In Motion (NYSE: RIMM), which makes the
BlackBerry device, delivered a strong fourth quarter last night and
described a promising year ahead, including an impending "breakout" in
the coveted Asia Pacific region.

Research In Motion's fourth-quarter revenue increased 141% to $211
million. Net income came in at $41.5 million, or $0.46 per share, as
compared to a loss of $31.1 million in the same quarter last year. If
you take out litigation costs and a tax-recovery charge, pro forma
earnings were $0.56 per share. It also upped its guidance for the coming
year.
In addition, Research In Motion passed the 1 million subscriber mark
during the quarter. It also said it plans a 2-for-1 stock split, which
many of us know, in the grand scheme of things, is pretty ho-hum news
for Foolish investors.

In its conference call (transcript courtesy of CCBN StreetEvents),
Research In Motion described an environment where its BlackBerry is
distributed by a who's who of wireless heavyweights, such as AT&T
Wireless (NYSE: AWE), T-Mobile, Nextel (Nasdaq: NXTL), Cingular, and
Verizon (NYSE: VZ), among many.

Continued penetration into international markets is seen as a growth
driver, including the hoped-for invasion of China. So far, Research In
Motion said that it sees BlackBerry success in the region with
English-speaking users, such as expatriates and employees of
multinational corporations. Though it has Chinese character support on
the handsets, RIM says it still needs to work on implementing support of
Unicode, a worldwide character standard.

While many may see the BlackBerry as the only game in town, Research In
Motion faces some adverse forces, including a patent lawsuit. There are
also its old rivals to contend with, palmOne (Nasdaq: PLMO) and
Handspring (Nasdaq: HAND), as well as emerging rival products. Investors
might be relieved to know the company plans to increase its research and
development spending, including boosting head counts, in the first half
of the year.

It's difficult to get past the fact that this stock has shot up 62% over
the year. It sagged a bit today, likely reflecting that the earnings
weren't quite the rush investors were expecting. While it may not have
delivered a huge upside surprise, for those who aren't adverse to risk,
the possibilities of a largely untapped global market with an improving
economic view are what make Research In Motion as alluring as its
BlackBerry device.

http://www.fool.com/News/mft/2004/mft04040809.htm

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