NEW YORK (CNN/Money) - Research in Motion Ltd. reported a fiscal first-quarter loss Tuesday, compared with a profit in the same period last year. But the loss was less than most company watchers had expected.

At the same time, executives of RIM, best known for its "BlackBerry" wireless e-mail devices, lowered their revenue target for the fiscal year but maintained their prior forecast for a full-year loss between 30 cents and 45 cents per share.

After the close of trading, RIM logged a loss of $10.8 million, or 14 cents per share, for the quarter ended June 1. That compared with net income of $3.8 million, or 5 cents per share, in the corresponding period last year.

Still, the company's loss for the most recent quarter was a nickel less than the 19 cents per share most analysts had expected, according to a survey conducted by earnings tracker First Call.

At $71.6 million, RIM's fiscal first-quarter revenue was down 7 percent from the $77 million the company reported in the year-ago period but slightly higher than the $70.5 analysts generally had expected, according to the First Call survey.

RIM's (RIMM: Research, Estimates) shares spiked on the news, soaring more than 11 percent to $11.20 in extended-hours trade after slipping 33 cents on Nasdaq ahead of the earnings report, which was released after the close of regular trading.

In April, RIM executives lowered their first-quarter financial targets, saying they were aiming for revenue in the "low $70 million range" and losses between 18 cents and 22 cents per share.

They blamed the shortfall on the delayed launch by some telecom carriers of their BlackBerry offerings.

Looking ahead, RIM executives said they expect revenue for the full fiscal year to be in a range between $350 million and $375 million. They previously had forecast revenue ranging between $375 million and $425 million.

While the latest full-year revenue forecast is lower than one RIM executives previously had provided, it is in line with Wall Street's recent expectations.

At last count, analysts generally were expecting the company to report revenue of $362.5 million for the year. At the same time, expectations were for a full-year loss of 54 cents per share, which is more than the company said it expects to lose for the year.

RIM also cut its second-quarter loss target to a range between 15 cents and 20 cents per share from 18 to 22 cents, but maintained its revenue target of $75 million to $80 million. The latest estimate of analysts polled by First Call was for a loss of 19 cents per share on revenue of $76.3 million.  

-- from staff and wire reports