BlackBerry maker RIM posts losses

MONTREAL- Agence France-Presse

BlackBerry maker RIM posted $125 million in net losses for its fourth quarter.

BlackBerry maker Research In Motion on March 29 posted a quarterly loss -- disappointing first results for the firm’s new chief executive, who moved to shake up the struggling company’s top ranks.

The Waterloo, Ontario-based firm reported a net loss of $125 million for its fiscal fourth quarter to March 3, compared with a profit of $418 million a year earlier.

That dragged down the full fiscal 2012 profit to $1.16 billion, down sharply from $3.4 billion a year earlier as RIM battled against Apple’s iPhones and iPads and an onslaught of Android-powered devices.

RIM also said Jim Balsillie, a co-founder and co-chief executive until his resignation in January, would step down from the board, completing his retirement from the company.

In addition to the Balsillie departure, RIM said David Yach will be retiring from his role as chief technology officer and Jim Rowan, chief operating officer for global operations, “has decided to pursue other interests.” The results provided a rocky start for chief operating officer Thorsten Heins, who was named president and CEO after the resignation of Balsillie and co-CEO Mike Lazaridis following months of investor pressure for a change.