WATERLOO, ONTARIO--(Marketwire - March 31, 2010) - Research In Motion Limited (RIM) (NASDAQ:RIMM)(TSX:RIM), a world leader in the mobile communications market, today reported results for the three months and fiscal year ended February 27, 2010 (all figures in U.S. dollars and U.S. GAAP). 

Annual Highlights:

• Revenue grew 35% over the prior fiscal year to $15 billion
• BlackBerry® subscriber account base grew 65% over the prior fiscal year to over 41 million, with a record 4.9 million net new subscriber accounts added in Q4
• BlackBerry smartphone shipments grew more than 40% over the prior fiscal year to 37 million
• BlackBerry was the number one selling smartphone brand in the United States at the end of calendar 2009(1)
• GAAP earnings per share grew 30% over the prior fiscal year to $4.31 per share diluted

Revenue for the fiscal year ended February 27, 2010 was $14.95 billion, up 35% from $11.07 billion last year. Revenue for the fourth quarter of fiscal 2010 was $4.08 billion, up 18% from $3.46 billion in the same quarter of last year and up 4% from $3.92 billion in the previous quarter. The revenue breakdown for the quarter was approximately 80% for devices, 16% for service, 2% for software and 2% for other revenue. Gross margin for the fourth quarter was 45.7% compared to 42.7% in the prior quarter. RIM shipped approximately 37 million devices during fiscal 2010 and approximately 10.5 million devices in the fourth quarter. 

Approximately 4.9 million net new BlackBerry subscriber accounts were added in the quarter. At the end of the quarter, the total BlackBerry subscriber account base was over 41 million. 

"RIM has completed another outstanding fiscal year with record revenue, earnings and subscriber results. Our company and partnerships continued to thrive within one of the most dynamic industries in the world. We managed to significantly expand our international market share while also maintaining our longstanding leadership in North America where BlackBerry continues to be the top selling smartphone brand," said Jim Balsillie, Co-CEO at Research In Motion. "We are off to a great start in fiscal 2011 and expect strong shipments, revenue, subscriber and earnings growth in Q1. We are also very excited about our portfolio of products and services for the coming year and we continue to see exceptional opportunity for sustained growth."

Net income for fiscal 2010 was $2.46 billion, or $4.31 per share diluted, up 29.8% over fiscal 2009. Net income for the quarter was $710.1 million, or $1.27 per share diluted, compared with net income of $628.4 million, or $1.10 per share diluted, in the prior quarter and net income of $518.3 million, or $0.90 per share diluted, in the same quarter last year. 

Revenue for the first quarter of fiscal 2011 ending May 29, 2010 is expected to be in the range of $4.25-4.45 billion. Gross margin for Q1 is expected to be approximately 44.5%. Net subscriber account additions in the first quarter are expected to be between 4.9-5.2 million. Earnings per share for the first quarter are expected to be in the range of $1.31 – $1.38 per share diluted. 

The total of cash, cash equivalents, short-term investments and long-term investments was $2.87 billion as at February 27, 2010, compared to $2.41 billion at the end of the previous quarter, an increase of $461 million over the prior quarter. Uses of cash in the quarter included capital expenditures of $258 million and the acquisition of intangible assets of $36 million.

A conference call and live webcast will be held beginning at 5 pm ET, March 31, 2010, which can be accessed by dialing 800-814-4859 (North America), 416-644-3414 (outside North America). The replay of the company's Q4 conference call can be accessed after 7 pm ET, March 31, 2010 until midnight ET, April 14, 2010. It can be accessed by dialing 416-640-1917 and entering passcode 4177292#. The conference call will also appear on the RIM website live at 5 pm ET and will be archived at http://www.rim.com/investors/events/index.shtml.

(1) IDC, "IDC announces the Top Ten Converged Mobile Devices in the United States for 4Q09", February 5, 2010

About Research In Motion (RIM)

Research In Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information including email, phone, SMS messaging, internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity. RIM's portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry® wireless platform, the RIM Wireless Handheld™ product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq Stock Market (NASDAQ:RIMM) and the Toronto Stock Exchange (TSX:RIM). For more information, visit www.rim.com or www.blackberry.com.

This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws, including statements relating to RIM's revenue, gross margin, earnings expectation and net subscriber account additions for the first quarter of fiscal 2011, the anticipated growth of RIM's business globally in fiscal 2011, and anticipated product and service launches in the coming year. The terms "continue", "expected", "opportunity" and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RIM believes are appropriate in the circumstances including but not limited to general economic conditions, product pricing levels and competitive intensity, supply constraints and new product introductions. Many factors could cause RIM's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: reduced spending by customers and other risks relating to the uncertainty of economic and geopolitical conditions; risks relating to RIM's intellectual property rights; RIM's ability to enhance current products and develop new products and services; RIM's reliance on carrier partners, third-party manufacturers, third-party network developers and suppliers; risks relating to the efficient and uninterrupted operation of RIM's network operations centre; risks related to RIM's international operations; and intense competition. These risk factors and others relating to RIM are discussed in greater detail in the "Risk Factors" section of RIM's Annual Information Form, which is included in its Annual Report on Form 40-F and RIM's MD&A (copies of which filings may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on RIM's forward-looking statements. RIM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. RIM, Research In Motion and BlackBerry are registered with the U.S. Patent and Trademark Office and may be pending or registered in other countries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners.

Research In Motion Limited
Incorporated under the Laws of Ontario
(United States dollars, in thousands except per share data) (unaudited)

Consolidated Statements of Operations

			Three months ended							For the year ended
			February 27, 2010		November 28, 2009		February 28, 2009			February 27, 2010		February 28, 2009
Revenue			$	4,079,712	$	3,924,310	$	3,463,193		$	14,953,224	$	11,065,186
Cost of sales				2,216,622		2,249,055		2,079,615			8,368,958		5,967,888
Gross margin				1,863,090		1,675,255		1,383,578			6,584,266		5,097,298
		Gross margin %		45.7%		42.7%		40.0%			44.0%		46.1%
Operating expenses
	Research and development			267,164		242,329		182,535			964,841		684,702
	Selling, marketing and administration			497,642		465,717		406,493			1,907,398		1,495,697
	Amortization			86,540		83,129		61,595			310,357		194,803
	Litigation			-		-		-			163,800		-
				851,346		791,175		650,623			3,346,396		2,375,202
Income from operations				1,011,744		884,080		732,955			3,237,870		2,722,096
	Investment income			5,454		6,425		10,568			28,640		78,267
											-
Income before income taxes				1,017,198		890,505		743,523			3,266,510		2,800,363
Provision for income taxes				307,076		262,134		225,264			809,366		907,747
Net income			$	710,122	$	628,371	$	518,259		$	2,457,144	$	1,892,616
Earnings per share
	Basic		$	1.27	$	1.11	$	0.92		$	4.35	$	3.35
	Diluted		$	1.27	$	1.10	$	0.90		$	4.31	$	3.30
Weighted average number of common shares outstanding (000's)
	Basic			557,114		566,277		566,105			564,492		565,059
	Diluted			561,130		570,929		572,753			569,759		574,156
Total common shares outstanding (000's)				557,328		556,913		566,219			557,328		566,219

Research In Motion Limited
Incorporated under the Laws of Ontario
(United States dollars, in thousands except per share data) (unaudited)

Consolidated Balance Sheets

As at			February 27, 2010			February 28, 2009
Assets
	Current
		Cash and cash equivalents	$	1,550,861		$	835,546
		Short-term investments		360,614			682,666
		Accounts receivable, net		2,593,742			2,112,117
		Other receivables		206,373			157,728
		Inventories		621,611			682,400
		Other current assets		285,539			187,257
		Deferred income tax asset		193,916			183,872
				5,812,656			4,841,586
Long-term investments				958,248			720,635
Property, plant and equipment, net				1,956,581			1,334,648
Intangible assets, net				1,326,363			1,066,527
Goodwill				150,561			137,572
Deferred income tax asset				-			404
			$	10,204,409		$	8,101,372
Liabilities
	Current
		Accounts payable	$	615,620		$	448,339
		Accrued liabilities		1,638,260			1,238,602
		Income taxes payable		95,650			361,460
		Deferred revenue		67,573			53,834
		Deferred income tax liability		14,674			13,116
				2,431,777			2,115,351
Deferred income tax liability				141,382			87,917
Income taxes payable				28,587			23,976
				2,601,746			2,227,244
Shareholders' Equity
Capital stock				2,207,609			2,208,235
Treasury stock				(94,463	)		-
Retained earnings				5,274,365			3,545,710
Additional paid-in capital				164,060			119,726
Accumulated other comprehensive income				51,092			457
				7,602,663			5,874,128
			$	10,204,409		$	8,101,372

Research In Motion Limited
Incorporated under the Laws of Ontario
(United States dollars, in thousands except per share data) (unaudited)

Consolidated Statements of Cash Flows

		For the year ended February 27, 2010			For the year ended February 28, 2009
Cash flows from operating activities
Net income		$	2,457,144		$	1,892,616
Adjustments to reconcile net income to net cash provided by operating activities:
	Amortization		615,621			327,896
	Deferred income taxes		51,363			(36,623	)
	Income taxes payable		4,611			(6,897	)
	Stock-based compensation		58,038			38,100
	Other		8,806			5,867
Net changes in working capital items			(160,709	)		(769,114	)
Net cash provided by operating activities			3,034,874			1,451,845
Cash flows from investing activities
Acquisition of long-term investments			(862,977	)		(507,082	)
Proceeds on sale or maturity of long-term investments			473,476			431,713
Acquisition of property, plant and equipment			(1,009,416	)		(833,521	)
Acquisition of intangible assets			(421,400	)		(687,913	)
Business acquisitions, net of cash acquired			(143,375	)		(48,425	)
Acquisition of short-term investments			(476,956	)		(917,316	)
Proceeds on sale or maturity of short-term investments			970,521			739,021
Net cash used in investing activities			(1,470,127	)		(1,823,523	)
Cash flows from financing activities
Issuance of common shares			30,246			27,024
Excess tax benefits from stock-based compensation			1,943			12,648
Purchase of treasury stock			(94,463	)		-
Common shares repurchased			(775,008	)		-
Repayment of debt			(6,099	)		(14,305	)
Net cash provided by (used in) financing activities			(843,381	)		25,367
Effect of foreign exchange loss on cash and cash equivalents			(6,051	)		(2,541	)
Net increase (decrease) in cash and cash equivalents for the year			715,315			(348,852	)
Cash and cash equivalents, beginning of year			835,546			1,184,398
Cash and cash equivalents, end of year		$	1,550,861		$	835,546
As at			February 27, 2010			November 28, 2009
Cash and cash equivalents		$	1,550,861		$	1,286,309
Short-term investments			360,614			341,205
Long-term investments			958,248			781,206
		$	2,869,723		$	2,408,720