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RIM not impacted by restatement

BlackBerry vendor Research In Motion (RIM) said Thursday that it has completed the restatement of its previously filed financial statements, following an internal review of its stock option granting practices.

The restatements cover 2005, 2006 and audited results for 2007. As a result, RIM said it expects trading restrictions to be lifted next week.

The restatement cut earnings by $248.2m, as Earnings per Share for the fiscal year ended March 3, 2007 dropped to $3.31 compared to the previously reported preliminary GAAP Earnings per Share of $3.33.

The cut was in line with RIM’s estimate announced back in March and as such will not have any material impact.


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