Co issues downside guidance for Q3 (Nov), sees EPS of $0.81-0.83, excluding non-recurring items, vs. $0.91 First Call consensus; sees Q3 (Nov) revs of $2.75-2.78 bln vs. $2.96 bln consensus. Preliminary revenue is lower than the previously forecasted revenue range of $2.95-$3.10 bln. Co notes approx one third of the difference between forecasted and preliminary revenue is expected to be a result of the depreciation of certain foreign currencies relative to the U.S. dollar in the quarter. The remaining difference is primarily due to lower than estimated unit shipments of existing products, which RIMM believes is a reflection of general economic weakness in the U.S. and shifts in product launch dates within the quarter. Subject to final review, gross margin in the quarter is expected to be between 45-46%. The lower than expected gross margin is due primarily to product revenue mix and foreign exchange impacts within the quarter. EPS is anticipated lower due to lower-than-estimated revenue and the unfavorable impact of the strengthening U.S. dollar. Co expects the number of net new BlackBerry subscriber accounts added in the quarter to be approx 2.6 mln, which is lower than the 2.9 mln previously forecasted and reflects a 57% increase over the same quarter of last year.
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