RIM outlook good: Analysts

Balsillie’s hockey quest not seen distracting BlackBerry maker

Rajanish Kakade/the associated press file photo

Research In Motion co-CEO Jim Balsillie’s dream of acquiring an NHL hockey team is not seen as a major concern by analysts.

Published: June 18, 2009 5:40 a.m.

Last modified: June 17, 2009 8:43 p.m.

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Research In Motion is expected to report another solid quarter today, but co-CEO Jim Balsillie’s high-profile quest for another hockey team in Canada raises the question of whether it could divert his attention away from the company.

“There are those who would question whether Jim Balsillie is being, or might be, distracted by this protracted bid,” said Carmi Levy, an analyst at consulting firm AR Communications Inc.

The billionaire executive’s attempt to acquire the Phoenix Coyotes has dominated headlines since it began early last month.

“That guy works the hours and travels the miles of three CEOs already,” said Mark McKechnie, an analyst at Broadpoint Gleacher Securities Group in New York.

The hockey bid is “something to think about and factor in, but it’s not a major concern for me.”

“My sense is he’s got lawyers and a lot of people doing that work for him.”

Analysts have been relatively optimistic about RIM’s first-quarter earnings. It marks the first overtly optimistic outlook for the company since last year, after some analysts downgraded their position during the fourth quarter on fears the portable device maker’s growth would stall in the tough economy.

Most of that pessimism evaporated after RIM outperformed analyst expectations in the fourth quarter.

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