- BlackBerry Posts Third Quarter, Fiscal 2014 Earnings
  • BlackBerry Posts Third Quarter, Fiscal 2014 Earnings

    This just in, so we have not had a chance to let it sink in and figure out how dire the situation really is. Here are just some of the hi-lights:

    BlackBerry Reports Third Quarter Results for Fiscal 2014

    WATERLOO, ONTARIO--(Marketwired - December 20, 2013) - BlackBerry Limited (NASDAQ: BBRY)(TSX: BB), a global leader in wireless innovation, today reported financial results for the three months ended November 30, 2013 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).
    Q3 Highlights:
    -- Company begins transition to operating unit structure: Enterprise
    Services, Messaging, QNX Embedded business and the Devices business

    -- New organizational structure to drive greater focus on services and
    software, while establishing a more efficient business model for the
    Devices business

    -- Enterprise Services: Company sees increasing penetration of BlackBerry
    Enterprise Service 10 (BES10) with over 30,000 commercial and test
    servers installed to date, up from 25,000 in September 2013; Company
    remains a mobile device management leader with global enterprise
    customer base exceeding 80,000

    -- Messaging: Over 40 million newly registered iOS/Android users in the
    last 60 days; more than a dozen Android OEMs to preload BBM, including
    most recently LG; over 250,000 BBM Channels created by global user base
    since launch of BBM Channels on BlackBerry, including large brands such
    as Coke Indonesia and USA Today; BBM is the most secure mobile messaging
    service for use in regulated enterprises

    -- QNX Embedded Business: QNX to unveil new technology in automotive and
    cloud services at the 2014 International Consumer Electronics Show in

    -- Devices: Company strikes joint device development and manufacturing
    agreement with Foxconn; initial focus of partnership to be development
    of a consumer smartphone for Indonesia and other fast-growing markets in
    early 2014

    -- Revenue for the third quarter of approximately $1.2 billion, compared to
    $1.6 billion in the previous quarter; Company recognizes revenue on
    approximately 1.9 million smartphones in the third quarter, compared to
    3.7 million smartphones in the previous quarter

    -- Company takes primarily non-cash, pre-tax charges of $4.6 billion
    associated with long-lived assets, inventory and supply commitments, and
    previously announced restructuring and strategic review process; GAAP
    loss from continuing operations of $4.4 billion, or $8.37 per share
    diluted, compared with a GAAP loss from continuing operations of $965
    million, or $1.84 per share diluted, in the prior quarter

    -- Adjusted loss from continuing operations for the third quarter,
    excluding charges, was $354 million, or $0.67 per share diluted,
    compared with adjusted loss from continuing operations of $248 million,
    or $0.47 per share diluted, in the prior quarter

    -- Cash and investments balance of $3.2 billion; cash used in operations of
    $77 million

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