Net income for the first quarter of 2011 was $695m, or $1.33 per share diluted, compared with a net income of $769m, or $1.38 per share diluted, for the same period in 2010.

During the quarter, RIM shipped approximately 13.2 million BlackBerry handheld devices and approximately 500,000 BlackBerry Playbook tablets.

Jim Balsillie, Co-CEO at RIM, said: “Fiscal 2012 has gotten off to a challenging start. The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter.

"RIM’s business is profitable and remains solid overall with growing market share in numerous markets around the world and a strong balance sheet with almost $3 billion in cash. We believe that with the new products scheduled for launch in the next few months and realigning our cost structure, RIM will see strong profit growth in the latter part of fiscal 2012."

RIM will begin a program to streamline operations across the organization, which will include a headcount reduction.

RIM expects revenue to be in the range of $4.2-$4.8 billion for the second quarter of fiscal 2012 ending August 27, 2011. Earnings per share for the second quarter are expected to be $0.75-$1.05 diluted, excluding any one-time charges.

Will RIM achieve expected revenue in Q2?

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