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RIM sales up, but profits slide

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RIM sales up, but profits slide

RIM reports a sales increase of 35% for the first quarter. Net income fell to $129.8 million from $132.5 million a year ago, which was a result of higher operational cost as well as stock option expenses. Sales grew from $453 million a year ago to $613 million in Q1 2006.

RIM says it added 680,000 new BlackBerry subscribers during the quarter. Back in March, RIM ended its long running patent disput with NTP. RIM settled the suit for $612.5 million.