Research in Motion's (NASDAQ: RIMM) latest financials have revealed that the company's revenues are on the rise, $4.08 billion having been generated in Q4 – up 18 percent on the same period last year.

GAAP revenue for the 12 months ending February 27 was $14.95 billion, up 35 percent year-on-year.

Net income was $2.46 billion, up 30 percent over fiscal 2009.

Q4 net income topped $710 million – up from just over $518 million in the same quarter in 2009.

Subscriber surge

RIM revealed it shipped 10.5 million handsets in Q4 and 37 million throughout the course of the year, making BlackBerry the number one selling smartphone brand in the US.

In addition, the BlackBerry subscriber base surged by 65 percent, with a record 4.9 million new subscriber accounts added in Q4.

At the end of the quarter, the total BlackBerry subscriber account base was over 41 million.

"RIM has completed another outstanding fiscal year with record revenue, earnings and subscriber results," said RIM co-CEO Jim Balsillie.

"Our company and partnerships continued to thrive within one of the most dynamic industries in the world.

"We managed to significantly expand our international market share while also maintaining our longstanding leadership in North America where BlackBerry continues to be the top selling smartphone brand."

RIM ended Q4 with $2.87 billion in cash, cash equivalents, short-term investments and long-term investments. This is an increase of $461 million over Q3.

Eye on iPhone

But the firm's revenues aren't quite as fruitful as many were hoping.

BusinessWeek reports analysts polled by Thomson Reuters had been predicting that Q4 revenue would come in at around $4.31 billion.

Such experts are concerned that RIM's traditional focus on enterprise means it's losing vital consumer-based share to iPhone – share it's unlikely to make up as Apple's growth within the mobile market accelerates.

RIM still believes there are better times ahead, however, the company predicting it will report revenue of between $4.25 billion and $4.45 billion for the Q1 quarter ending May 29th, with 4.9 million to 5.2 million new subscribers.