Blackberry 2004 Annual Report Download - page 7

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5
Fellow Shareholders,
Fiscal 2004 was a landmark year for Research In Motion. We achieved a number of significant
milestones including:
•Year over year revenue growth of 94%;
•Surpassing the one million BlackBerry subscriber mark in Q4 of this year, with subscribers
doubling over the last year;
•BlackBerry is available on over 50 networks globally;
•Launching a number of new BlackBerry handhelds around the world;
•Signing several prominent BlackBerry ConnectTM licensing partners;
•Leveraging the growth in our business model to achieve profitability; and
•Completing a recent financing of $900 million which has significantly strengthened RIM’s
balance sheet.
This year RIM also celebrates its 20th anniversary and we would like to thank you all for your
support over the years. Although RIM has been in business for 20 years, we believe we are just at
the beginning of the most exciting chapter of our growth. We are energized by the momentum we
see in our business and look forward to the tremendous opportunities ahead.
We will now provide you with an update on the business and a discussion of our goals for the
coming year:
Finance and Administration
Revenues in fiscal 2004 grew 94% to $594.6 million from $307 million in fiscal 2003. This
tremendous growth was driven by a number of factors including new product introductions, global
carrier launches and the development of attractive end-user pricing plans by our carrier partners.
2004 letter to shareholders