Blackberry 1999 Annual Report Download - page 4

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Financially, we more than doubled revenues to $70.5 million and
reported net earnings of $9.5 million or $0.15 per share. The main catalyst
for this growth was the launch of the Inter@ctive™ Pager 950 with
BellSouth and Cantel as well as steady sales growth with our OEM
radio modem customers.
In addition to the launch of the Inter@ctive Pager 950, RIM introduced
an integrated device/service offering called BlackBerry™ in January 1999.
BlackBerry is explained in more detail on page 12, but in brief, its core
feature is wearable wireless email. The BlackBerry Handheld allows a user
to wirelessly synchronize email that is sent to their desktop computer and
also performs all calendar, organizer and task list functions that are
included in personal organizers. RIM not only provides the handheld
devices for BlackBerry, but is a single source to the end user for software
support and monthly airtime. Management believes that BlackBerry will
change the way people manage their email and personal information.
BlackBerry will be a significant part of RIM’s business plan going forward.
RIM continued its focus on research and development by almost
doubling spending to $11.8 million and by hiring 38 highly qualified
new technical personnel. A further $3.9 million was spent on providing
new equipment and tools for the R&D team. David Yach joined RIM’s
R&D team as Vice President, Software. David was formerly the Chief
Software Architect for Sybase and is helping solidify RIM’s increasing
software efforts.
2
Fellow Shareholders,
Fiscal 1999 was an excellent
year for Research In Motion.
Breakthrough achievements
included financial success,
new product introductions,
increases in research and
development, marketing and
production resources and
broader industry awareness of
wearable two-way messaging.
Letter to Shareholders