Vendor results - 19/04/07

RIM reports 2006 revenues of $3bn, up 47%, and net income of $634m, up 66%. Rim shipped 6.4m terminals and currently has more than 8m subscribers worldwide. But RIM stock was hit (-9%) by a SEC review on stock options, and the firm will have to refurbish its financial results.

Samsung reports its mobile phone margins rose to 13% in 1Q07 from a revised 7% in 4Q06, though average selling prices fell by 8%. Its 1Q07 net profit fell 15% to €1.7bn, on revenues of €14.4bn, up 3%. Profit decline is mainly due to DRAM memory price fall and over production.

Adtran posted 1Q07 net income of $17m (+4%) on revenues of $110m (+1.5%).

Fujitsu expects a record net profit of $862m (+27%) in its FY06 (ended 03/07), but revisted downwards its operating profit to $1.5bn (-4%). Sales are projected unchanged at $43.1bn.

Datang (China) reported an unaudited net loss of $93m, worse than a year earlier. In addition, Datang is tight in capital. In spite of some recent successes (China Mobile 3G network order), first payment will not arrive before June, and a pretty large portion of it will be channeled to Alcatel Shanghai Bell.