RIM tax break gives firm $14m profit for third quarter

A settlement of an outstanding tax issue, which netted $166m, has allowed RIM to declare a quarterly profit for the first time in many financial announcements. The company said that in its third fiscal quarter of 2013 – and no, that's not a typo – its revenues fell 5 per cent to $2.7bn, down 47 per cent from the same period …

[Shaun Hunter]

They need to diversify

Apple, Google and Microsoft use their product to sell content and advertising. Selling just phones isn't going to get RIM any more market share no matter what they do.

I think they need to use their strength which in my opinion is QNX and make the high profit things that QNX runs like medical equipment, stop lights, satellites, industrial robots, etc. The may get a chance at the CANDU reactors depending on what happens in SNC Lavalin's criminal investigation. They should also make networking gear and get into hosted services like Amazon has.

I also think they should buy D-Wave and sink $1 billion of their stash into it. If for nothing else but to prove that their a forward looking company with potential.

[Bronek Kozicki]

Re: They need to diversify

Buying a company for $1 beeelion just to "prove that their a forward looking company with potential" ?

What a silly idea. Only HP could do this. Or perhaps Facebook. Or perhaps ... oh never mind.

[Shaun Hunter]

Re: They need to diversify

Do you know what D-Wave does?

It makes the world's only quantum computer (ie. THE FUTURE) and they're Canadian like RIM.

[Shaun Hunter]

Re: They need to diversify

I also didn't mean buy the company for $1 billion, they could get it cheaper than that. I meant use $1 billion of their $20b stash for R&D.

[Katie Saucey]

Tax break profit?

Nortel #2 coming up.

[s. pam]

It would be far easier for RIM...

To rename themselves $tarbuck$, Gargle or Yodafone and just avoid taxes altogether.

I'll get me coat..

[Bronek Kozicki]

Re: It would be far easier for RIM...

You realize these companies do pay tax - just not in UK?

[Oninoshiko]

I realize the article said that's not a typo,

but can someone explain to me how they know what will have had happened in 2013?

(apologies to the late Mr Adams)