Credit Suisse analyst Kulbinder Garcha said the quarterly results were okay, but that a turnaround is still a challenge, given the company's products. "With an uncompetitive product portfolio and the need for further restructuring, we believe that there a few positives ahead for the company," Garcha wrote in his note. He rates shares "neutral" with a $7 price target.

Garcha, like many on Wall Street (myself included), believe the only savior for the company would be an outright sale. Heins touched a little bit on the strategic review process RIM is undertaking, but didn't offer any updates. Considering that the service revenue stream is running low (with carriers pressuring these fees), RIM's prospects of surviving on its own appear bleak at best.

I leave you with a limerick on RIM, courtesy of TheStreet's Eric Rosenbaum:

RIMM

Could have been more grim

Than it has been

But has been still

If you will:

With the zombie now a pop culture fad

Why not smartphone stock walking dead?

Interested in more on Research In Motion? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

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