RIM’s net income drops

Research In Motion Ltd. swallowed US$3.53 billion in revenue in the quarter that ended Aug. 29, up three per cent from the previous quarter and up 37 per cent from the same quarter last year. Net income for the quarter was US$475.6 million, down from US$643.0 million the quarter before. The drop reflected  a charge of US$112.8 million to settle all outstanding worldwide patent litigation with Visto Corp. Approximately 3.8 million net new BlackBerry subscriber accounts were added in the quarter, bringing the total  subscriber account base to approximately 32 million. Revenue for the third quarter ending Nov. 28 is expected to be in the range of US$3.60-$3.85 billion. Gross margin for Q3 is expected to be approximately 43 per cent. Net subscriber account additions in the third quarter are expected to be in the range of 4.0-4.3 million.