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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Blackberry Limited | NASDAQ:BBRY | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.57 | 11.54 | 11.57 | 0 | 01:00:00 |
Document
|
|
1
|
BlackBerry Reports Record Software and Services Revenue for Q1 Fiscal 2017
|
2
|
BlackBerry Supplemental Financial Information
|
•
|
Company begins reporting multiple business segments: Software and Services, Service Access Fees (SAF) and Mobility Solutions. Mobility Solutions includes BlackBerry smartphones and device software licensing
|
•
|
Non-GAAP total revenue of $424 million
|
•
|
Non-GAAP software and services revenue of $166 million
|
•
|
Non-GAAP gross margin of 53%
|
•
|
Tenth consecutive quarter of positive adjusted EBITDA
|
•
|
Cash and investments balance of $2.5 billion at the end of the first fiscal quarter
|
•
|
Unveiled BlackBerry Radar, a new end-to-end asset tracking system based on the company’s IoT platform, for trucking companies and private fleet operators
|
•
|
BlackBerry named a “Leader” in the Forrester Wave for enterprise file sync and share for hybrid solutions
|
•
|
After the quarter, BlackBerry named a “Leader” in the Gartner Magic Quadrant for Enterprise Mobility Management Suites
|
•
|
New Enterprise Partner Program launched globally to stimulate growth and drive profit for partners
|
•
|
Pentagon Force Protection Agency chooses AtHoc to protect Department of Defense leadership, staff, and visitors in times of crisis
|
|
For the Three Months Ended May 31, 2016
(in millions) |
||||||||||||||||||||||||||||||
|
Software & Services
|
|
Mobility Solutions
|
|
SAF
|
|
Segment totals
|
|
Corporate unallocated
|
|
Subtotal
|
|
Non-GAAP adjustments
|
|
Consolidated U.S. GAAP
|
||||||||||||||||
Revenue
|
$
|
166
|
|
|
$
|
152
|
|
|
$
|
106
|
|
|
$
|
424
|
|
|
$
|
—
|
|
|
$
|
424
|
|
|
|
($24
|
)
|
|
$
|
400
|
|
Cost of goods sold
|
32
|
|
|
140
|
|
|
26
|
|
|
198
|
|
|
—
|
|
|
198
|
|
|
48
|
|
|
246
|
|
||||||||
Gross margin
|
134
|
|
|
12
|
|
|
80
|
|
|
226
|
|
|
—
|
|
|
226
|
|
|
(72
|
)
|
|
154
|
|
||||||||
Operating expenses
|
97
|
|
|
33
|
|
|
2
|
|
|
132
|
|
|
80
|
|
|
212
|
|
|
597
|
|
|
809
|
|
||||||||
Operating income (loss)
|
$
|
37
|
|
|
$
|
(21
|
)
|
|
$
|
78
|
|
|
$
|
94
|
|
|
$
|
(80
|
)
|
|
$
|
14
|
|
|
$
|
(669
|
)
|
|
$
|
(655
|
)
|
Q1 Fiscal 2017 Non-GAAP Adjustments
|
|
For the Three Months Ended May 31, 2016
(in millions) |
|||||||||||||||||||||
|
Income statement location
|
|
Revenue
|
|
Gross margin
(before taxes)
(1)
|
|
Gross margin %
(before taxes)
(1)
|
|
Loss before income taxes
|
|
Net Loss
|
|
Basic loss per share
|
||||||||||
As reported
|
|
|
$
|
400
|
|
|
154
|
|
|
38.5
|
%
|
|
$
|
(670
|
)
|
|
$
|
(670
|
)
|
|
$
|
(1.28
|
)
|
LLA Impairment Charge
(2)
|
Impairment of long-lived assets
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
501
|
|
|
501
|
|
|
|
|||||
Goodwill Impairment Charge
(3)
|
Impairment of goodwill
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
57
|
|
|
57
|
|
|
|
|||||
Inventory write-down
(4)
|
Cost of sales
|
|
—
|
|
|
41
|
|
|
10.3
|
%
|
|
41
|
|
|
41
|
|
|
|
|||||
Debentures fair value adjustment
(5)
|
Debentures fair value adjustment
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
(24
|
)
|
|
(24
|
)
|
|
|
|||||
RAP charges
(6)
|
Cost of sales
|
|
—
|
|
|
7
|
|
|
1.7
|
%
|
|
7
|
|
|
7
|
|
|
|
|||||
RAP charges
(6)
|
Research and development
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
2
|
|
|
2
|
|
|
|
|||||
RAP charges
(6)
|
Selling, marketing and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
16
|
|
|
16
|
|
|
|
|||||
CORE program recovery
(7)
|
Selling, marketing and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
(2
|
)
|
|
(2
|
)
|
|
|
|||||
Software deferred revenue acquired
(8)
|
Revenue
|
|
24
|
|
|
24
|
|
|
2.8
|
%
|
|
24
|
|
|
24
|
|
|
|
|||||
Stock compensation expense
(9)
|
Research and development
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
4
|
|
|
4
|
|
|
|
|||||
Stock compensation expense
(9)
|
Selling, marketing and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
8
|
|
|
8
|
|
|
|
|||||
Acquired intangibles amortization
(10)
|
Amortization
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
28
|
|
|
28
|
|
|
|
|||||
Business acquisition and integration costs
(11)
|
Selling, marketing and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
7
|
|
|
7
|
|
|
|
|||||
Adjusted
|
|
|
$
|
424
|
|
|
226
|
|
|
53.3
|
%
|
|
$
|
(1
|
)
|
|
$
|
(1
|
)
|
|
$
|
0.00
|
|
(1)
|
During the
first quarter
of fiscal
2017
, the Company reported GAAP gross margin of
$154 million
or
38.5%
of revenue. Excluding the impact of the inventory write-down and resource alignment program (“RAP”) charges included in cost of sales and software deferred revenue acquired included in revenue, the non-GAAP gross margin was
$226 million
, or
53.3%
of revenue.
|
(2)
|
During the
first quarter
of fiscal
2017
, the Company recorded long-lived asset impairment charge of
$501 million
. This adjustment was presented on a separate line in the Consolidated Statements of Operations.
|
(3)
|
During the
first quarter
of fiscal
2017
, the Company recorded goodwill impairment charge of
$57 million
. This adjustment was presented on a separate line in the Consolidated Statements of Operations.
|
(4)
|
During the
first quarter
of fiscal
2017
, the Company recorded inventory write-down charges of
$41 million
, which were included in cost of sales.
|
(5)
|
During the
first quarter
of fiscal
2017
, the Company recorded the
Q1 Fiscal 2017 Debentures Fair Value Adjustment
of
$24 million
. This adjustment was presented on a separate line in the Consolidated Statements of Operations.
|
(6)
|
During the
first quarter
of fiscal
2017
, the Company incurred charges related to the RAP of approximately
$25 million
, of which
$7 million
were included in cost of sales,
$2 million
were included in research and development and
$16 million
were included in selling, marketing and administration expense.
|
(7)
|
During the
first quarter
of fiscal
2017
, the Company incurred recoveries related to the CORE program of
$2 million
, which were included in selling, marketing, and administration expenses.
|
(8)
|
During the
first quarter
of fiscal
2017
, the Company recorded software deferred revenue acquired but not recognized due to business combination accounting rules of
$24 million
, which were included in revenue.
|
(9)
|
During the
first quarter
of fiscal
2017
, the Company recorded stock compensation expense of
$12 million
, of which
$4 million
were included in research and development, and
$8 million
were included in selling, marketing and administration expenses.
|
(10)
|
During the
first quarter
of fiscal
2017
, the Company recorded amortization of intangible assets acquired through business combinations of
$28 million
, which were included in amortization expense.
|
(11)
|
During the
first quarter
of fiscal
2017
, the Company recorded business acquisition and integration costs incurred through business combinations of
$7 million
, which were included in selling, marketing and administration expenses.
|
|
|
For the quarters ended
|
|||||||||||||||||||||||||||||||||
|
|
May 31, 2016
|
|
February 29, 2016
|
|
November 28, 2015
|
|
August 29, 2015
|
|
May 30, 2015
|
|||||||||||||||||||||||||
North America
|
|
$
|
195
|
|
|
48.8
|
%
|
|
$
|
216
|
|
|
46.5
|
%
|
|
$
|
275
|
|
|
50.2
|
%
|
|
$
|
176
|
|
|
36.0
|
%
|
|
$
|
285
|
|
|
43.3
|
%
|
Europe, Middle East and Africa
|
|
155
|
|
|
38.7
|
%
|
|
175
|
|
|
37.7
|
%
|
|
194
|
|
|
35.4
|
%
|
|
202
|
|
|
41.2
|
%
|
|
245
|
|
|
37.2
|
%
|
|||||
Latin America
|
|
10
|
|
|
2.5
|
%
|
|
18
|
|
|
3.9
|
%
|
|
24
|
|
|
4.4
|
%
|
|
33
|
|
|
6.7
|
%
|
|
42
|
|
|
6.4
|
%
|
|||||
Asia Pacific
|
|
40
|
|
|
10.0
|
%
|
|
55
|
|
|
11.9
|
%
|
|
55
|
|
|
10.0
|
%
|
|
79
|
|
|
16.1
|
%
|
|
86
|
|
|
13.1
|
%
|
|||||
Total
|
|
$
|
400
|
|
|
100.0
|
%
|
|
$
|
464
|
|
|
100.0
|
%
|
|
$
|
548
|
|
|
100.0
|
%
|
|
$
|
490
|
|
|
100.0
|
%
|
|
$
|
658
|
|
|
100.0
|
%
|
|
|
For the three months ended
|
||||||||||
|
|
May 31, 2016
|
|
February 29, 2016
|
|
May 30, 2015
|
||||||
Revenue
|
|
$
|
400
|
|
|
$
|
464
|
|
|
$
|
658
|
|
Cost of sales
|
|
246
|
|
|
254
|
|
|
348
|
|
|||
Gross margin
|
|
154
|
|
|
210
|
|
|
310
|
|
|||
Gross margin %
|
|
38.5
|
%
|
|
45.3
|
%
|
|
47.1
|
%
|
|||
Operating expenses
|
|
|
|
|
|
|
||||||
Research and development
|
|
89
|
|
|
108
|
|
|
139
|
|
|||
Selling, marketing and administration
|
|
129
|
|
|
179
|
|
|
173
|
|
|||
Amortization
|
|
54
|
|
|
77
|
|
|
65
|
|
|||
Impairment of goodwill
|
|
57
|
|
|
—
|
|
|
—
|
|
|||
Impairment of long-lived assets
|
|
501
|
|
|
—
|
|
|
—
|
|
|||
Abandonment of long-lived assets
|
|
3
|
|
|
127
|
|
|
1
|
|
|||
Debentures fair value adjustment
|
|
(24
|
)
|
|
(40
|
)
|
|
(157
|
)
|
|||
|
|
809
|
|
|
451
|
|
|
221
|
|
|||
Operating income (loss)
|
|
(655
|
)
|
|
(241
|
)
|
|
89
|
|
|||
Investment loss, net
|
|
(15
|
)
|
|
(15
|
)
|
|
(16
|
)
|
|||
Income (loss) before income taxes
|
|
(670
|
)
|
|
(256
|
)
|
|
73
|
|
|||
Provision for (recovery of) income taxes
|
|
—
|
|
|
(18
|
)
|
|
5
|
|
|||
Net income (loss)
|
|
$
|
(670
|
)
|
|
$
|
(238
|
)
|
|
$
|
68
|
|
Earnings (loss) per share
|
|
|
|
|
|
|
|
|
|
|||
Basic
|
|
$
|
(1.28
|
)
|
|
$
|
(0.45
|
)
|
|
$
|
0.13
|
|
Diluted
|
|
$
|
(1.28
|
)
|
|
$
|
(0.45
|
)
|
|
$
|
(0.10
|
)
|
|
|
|
|
|
|
|
||||||
Weighted-average number of common shares outstanding (000’s)
|
|
|
|
|
|
|
|
|
|
|||
Basic
|
|
521,905
|
|
|
524,627
|
|
|
529,235
|
|
|||
Diluted
|
|
521,905
|
|
|
524,627
|
|
|
670,539
|
|
|||
Total common shares outstanding (000’s)
|
|
522,517
|
|
|
521,172
|
|
|
529,485
|
|
As at
|
May 31, 2016
|
|
February 29, 2016
|
||||
Assets
|
|
|
|
||||
Current
|
|
|
|
||||
Cash and cash equivalents
|
$
|
1,225
|
|
|
$
|
957
|
|
Short-term investments
|
1,008
|
|
|
1,420
|
|
||
Accounts receivable, net
|
265
|
|
|
338
|
|
||
Other receivables
|
55
|
|
|
51
|
|
||
Inventories
|
127
|
|
|
143
|
|
||
Income taxes receivable
|
25
|
|
|
—
|
|
||
Other current assets
|
94
|
|
|
102
|
|
||
|
2,799
|
|
|
3,011
|
|
||
Long-term investments
|
246
|
|
|
197
|
|
||
Restricted cash
|
53
|
|
|
50
|
|
||
Property, plant and equipment, net
|
391
|
|
|
412
|
|
||
Goodwill
|
562
|
|
|
618
|
|
||
Intangible assets, net
|
674
|
|
|
1,213
|
|
||
Deferred income tax asset
|
—
|
|
|
33
|
|
||
|
$
|
4,725
|
|
|
$
|
5,534
|
|
Liabilities
|
|
|
|
|
|
||
Current
|
|
|
|
|
|
||
Accounts payable
|
$
|
278
|
|
|
$
|
270
|
|
Accrued liabilities
|
305
|
|
|
368
|
|
||
Income taxes payable
|
—
|
|
|
9
|
|
||
Deferred revenue
|
326
|
|
|
392
|
|
||
|
909
|
|
|
1,039
|
|
||
Long term debt
|
1,253
|
|
|
1,277
|
|
||
Deferred income tax liability
|
9
|
|
|
10
|
|
||
|
2,171
|
|
|
2,326
|
|
||
Shareholders’ Equity
|
|
|
|
|
|
||
Capital stock and additional paid-in capital
|
2,463
|
|
|
2,448
|
|
||
Retained earnings
|
98
|
|
|
768
|
|
||
Accumulated other comprehensive loss
|
(7
|
)
|
|
(8
|
)
|
||
|
2,554
|
|
|
3,208
|
|
||
|
$
|
4,725
|
|
|
$
|
5,534
|
|
|
|
Three Months Ended
|
||||||
|
|
May 31, 2016
|
|
May 30, 2015
|
||||
Cash flows from operating activities
|
|
|
|
|
||||
Net income (loss)
|
|
$
|
(670
|
)
|
|
$
|
68
|
|
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
|
|
|
|
|
||||
Amortization
|
|
72
|
|
|
164
|
|
||
Deferred income taxes
|
|
32
|
|
|
2
|
|
||
Stock-based compensation
|
|
12
|
|
|
14
|
|
||
Loss on disposal of property, plant and equipment
|
|
1
|
|
|
12
|
|
||
Debentures fair value adjustment
|
|
(24
|
)
|
|
(157
|
)
|
||
Impairment of goodwill
|
|
57
|
|
|
—
|
|
||
Impairment of long-lived assets
|
|
501
|
|
|
—
|
|
||
Other-than-temporary impairment on cost-based investments
|
|
7
|
|
|
—
|
|
||
Other
|
|
3
|
|
|
16
|
|
||
Net changes in working capital items:
|
|
|
|
|
||||
Accounts receivable, net
|
|
73
|
|
|
35
|
|
||
Other receivables
|
|
(4
|
)
|
|
4
|
|
||
Inventories
|
|
16
|
|
|
(11
|
)
|
||
Income tax receivable, net
|
|
(25
|
)
|
|
153
|
|
||
Other current assets
|
|
8
|
|
|
124
|
|
||
Accounts payable
|
|
8
|
|
|
(86
|
)
|
||
Accrued liabilities
|
|
(53
|
)
|
|
(191
|
)
|
||
Income taxes payable
|
|
(9
|
)
|
|
—
|
|
||
Deferred revenue
|
|
(66
|
)
|
|
(13
|
)
|
||
Net cash provided by (used in) operating activities
|
|
(61
|
)
|
|
134
|
|
||
Cash flows from investing activities
|
|
|
|
|
|
|
||
Acquisition of long-term investments
|
|
(163
|
)
|
|
(77
|
)
|
||
Proceeds on sale or maturity of long-term investments
|
|
32
|
|
|
1
|
|
||
Acquisition of property, plant and equipment
|
|
(4
|
)
|
|
(11
|
)
|
||
Acquisition of intangible assets
|
|
(9
|
)
|
|
(11
|
)
|
||
Business acquisitions, net of cash acquired
|
|
—
|
|
|
(53
|
)
|
||
Acquisition of short-term investments
|
|
(389
|
)
|
|
(574
|
)
|
||
Proceeds on sale or maturity of short-term investments
|
|
875
|
|
|
532
|
|
||
Net cash provided by (used in) investing activities
|
|
342
|
|
|
(193
|
)
|
||
Cash flows from financing activities
|
|
|
|
|
|
|
||
Issuance of common shares
|
|
3
|
|
|
1
|
|
||
Payment of contingent consideration from business acquisitions
|
|
(15
|
)
|
|
—
|
|
||
Effect of foreign exchange gain on restricted cash
|
|
(3
|
)
|
|
(1
|
)
|
||
Transfer to restricted cash
|
|
—
|
|
|
1
|
|
||
Net cash provided by (used in) financing activities
|
|
(15
|
)
|
|
1
|
|
||
Effect of foreign exchange gain (loss) on cash and cash equivalents
|
|
2
|
|
|
(10
|
)
|
||
Net increase (decrease) in cash and cash equivalents during the period
|
|
268
|
|
|
(68
|
)
|
||
Cash and cash equivalents, beginning of period
|
|
957
|
|
|
1,233
|
|
||
Cash and cash equivalents, end of period
|
|
$
|
1,225
|
|
|
$
|
1,165
|
|
|
|
|
|
|
||||
As at
|
|
May 31, 2016
|
|
February 29, 2016
|
||||
Cash and cash equivalents
|
|
$
|
1,225
|
|
|
$
|
957
|
|
Short-term investments
|
|
1,008
|
|
|
1,420
|
|
||
Long-term investments
|
|
246
|
|
|
197
|
|
||
Restricted cash
|
|
53
|
|
|
50
|
|
||
|
|
$
|
2,532
|
|
|
$
|
2,624
|
|
GAAP Income Statement (Three Months Ended)
|
Q1 FY16
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Software & Services
|
$
|
137
|
|
|
$
|
73
|
|
|
$
|
155
|
|
|
$
|
131
|
|
|
$
|
496
|
|
|
$
|
142
|
|
Mobility Solutions
|
269
|
|
|
206
|
|
|
220
|
|
|
190
|
|
|
885
|
|
|
152
|
|
||||||
Service Access Fees
|
252
|
|
|
211
|
|
|
173
|
|
|
143
|
|
|
779
|
|
|
106
|
|
||||||
Revenue
|
658
|
|
|
490
|
|
|
548
|
|
|
464
|
|
|
2,160
|
|
|
400
|
|
||||||
Cost of sales
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cost of sales
|
327
|
|
|
301
|
|
|
303
|
|
|
251
|
|
|
1,182
|
|
|
200
|
|
||||||
Inventory write-down
|
21
|
|
|
4
|
|
|
9
|
|
|
3
|
|
|
36
|
|
|
46
|
|
||||||
Total cost of sales
|
348
|
|
|
305
|
|
|
312
|
|
|
254
|
|
|
1,219
|
|
|
246
|
|
||||||
Gross margin
|
310
|
|
|
185
|
|
|
236
|
|
|
210
|
|
|
941
|
|
|
154
|
|
||||||
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Research and development
|
139
|
|
|
122
|
|
|
100
|
|
|
108
|
|
|
469
|
|
|
89
|
|
||||||
Selling, marketing and administration
|
173
|
|
|
186
|
|
|
175
|
|
|
179
|
|
|
712
|
|
|
129
|
|
||||||
Amortization
|
65
|
|
|
67
|
|
|
68
|
|
|
77
|
|
|
277
|
|
|
54
|
|
||||||
Impairment of goodwill
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
57
|
|
||||||
Impairment of long-lived assets
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
501
|
|
||||||
Abandonment of long-lived assets
|
1
|
|
|
5
|
|
|
2
|
|
|
127
|
|
|
136
|
|
|
3
|
|
||||||
Debentures fair value adjustment
|
(157
|
)
|
|
(228
|
)
|
|
(5
|
)
|
|
(40
|
)
|
|
(430
|
)
|
|
(24
|
)
|
||||||
Total operating expenses
|
221
|
|
|
152
|
|
|
340
|
|
|
451
|
|
|
1,164
|
|
|
809
|
|
||||||
Operating income (loss)
|
89
|
|
|
33
|
|
|
(104
|
)
|
|
(241
|
)
|
|
(223
|
)
|
|
(655
|
)
|
||||||
Investment loss, net
|
(16
|
)
|
|
(12
|
)
|
|
(16
|
)
|
|
(15
|
)
|
|
(59
|
)
|
|
(15
|
)
|
||||||
Income (loss) before income taxes
|
73
|
|
|
21
|
|
|
(120
|
)
|
|
(256
|
)
|
|
(282
|
)
|
|
(670
|
)
|
||||||
Provision for (recovery of) income taxes
|
5
|
|
|
(30
|
)
|
|
(31
|
)
|
|
(18
|
)
|
|
(74
|
)
|
|
—
|
|
||||||
Net income (loss)
|
$
|
68
|
|
|
$
|
51
|
|
|
$
|
(89
|
)
|
|
$
|
(238
|
)
|
|
$
|
(208
|
)
|
|
$
|
(670
|
)
|
Earnings (loss) per share
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Basic earnings (loss) per share
|
$
|
0.13
|
|
|
$
|
0.10
|
|
|
$
|
(0.17
|
)
|
|
$
|
(0.45
|
)
|
|
$
|
(0.40
|
)
|
|
$
|
(1.28
|
)
|
Diluted earnings (loss) per share
|
$
|
(0.10
|
)
|
|
$
|
(0.24
|
)
|
|
$
|
(0.17
|
)
|
|
$
|
(0.45
|
)
|
|
$
|
(0.86
|
)
|
|
$
|
(1.28
|
)
|
Weighted-average number of common shares outstanding (000’s)
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Basic
|
529,235
|
|
|
526,314
|
|
|
525,103
|
|
|
524,627
|
|
|
526,303
|
|
|
521,905
|
|
||||||
Diluted
|
670,539
|
|
|
667,321
|
|
|
525,103
|
|
|
524,627
|
|
|
651,303
|
|
|
521,905
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-GAAP Adjustments (Three Months Ended, Pre-Tax and After Tax)
|
Q1 FY16
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
||||||||||||
LLA impairment charge
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
501
|
|
Goodwill impairment charge
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
57
|
|
||||||
Inventory write-down
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
41
|
|
||||||
Debentures fair value adjustment
|
(157
|
)
|
|
(228
|
)
|
|
(5
|
)
|
|
(40
|
)
|
|
(430
|
)
|
|
(24
|
)
|
||||||
RAP charges
|
52
|
|
|
79
|
|
|
33
|
|
|
180
|
|
|
344
|
|
|
25
|
|
||||||
CORE program charges (recoveries)
|
9
|
|
|
6
|
|
|
(6
|
)
|
|
2
|
|
|
11
|
|
|
(2
|
)
|
||||||
Software deferred revenue acquired
|
—
|
|
|
1
|
|
|
9
|
|
|
23
|
|
|
33
|
|
|
24
|
|
||||||
Stock compensation expense
|
14
|
|
|
14
|
|
|
14
|
|
|
17
|
|
|
60
|
|
|
12
|
|
||||||
Acquired intangibles amortization
|
9
|
|
|
11
|
|
|
18
|
|
|
28
|
|
|
66
|
|
|
28
|
|
||||||
Business acquisition and integration costs
|
1
|
|
|
—
|
|
|
11
|
|
|
10
|
|
|
22
|
|
|
7
|
|
||||||
Total Non-GAAP Adjustments (Three Months Ended, Pre-Tax and After Tax)
|
$
|
(72
|
)
|
|
$
|
(117
|
)
|
|
$
|
74
|
|
|
$
|
220
|
|
|
$
|
106
|
|
|
$
|
669
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-GAAP Gross Profit
|
Q1 FY16
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
||||||||||||
GAAP revenue
|
$
|
658
|
|
|
$
|
490
|
|
|
$
|
548
|
|
|
$
|
464
|
|
|
$
|
2,160
|
|
|
$
|
400
|
|
Software deferred revenue acquired
|
—
|
|
|
1
|
|
|
9
|
|
|
23
|
|
|
33
|
|
|
24
|
|
||||||
Non-GAAP revenue
|
658
|
|
|
491
|
|
|
557
|
|
|
487
|
|
|
2,193
|
|
|
424
|
|
||||||
Total cost of sales
|
(348
|
)
|
|
(305
|
)
|
|
(312
|
)
|
|
(254
|
)
|
|
(1,219
|
)
|
|
(246
|
)
|
||||||
Non-GAAP adjustments to cost of sales
|
21
|
|
|
15
|
|
|
5
|
|
|
4
|
|
|
45
|
|
|
48
|
|
||||||
Non-GAAP Gross Profit
|
$
|
331
|
|
|
$
|
201
|
|
|
$
|
250
|
|
|
$
|
237
|
|
|
$
|
1,019
|
|
|
$
|
226
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Adjusted EBITDA
|
Q1 FY16
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
||||||||||||
GAAP operating income (loss)
|
$
|
89
|
|
|
$
|
33
|
|
|
$
|
(104
|
)
|
|
$
|
(241
|
)
|
|
$
|
(223
|
)
|
|
$
|
(655
|
)
|
Non-GAAP adjustments to operating income (loss)
|
(72
|
)
|
|
(117
|
)
|
|
74
|
|
|
220
|
|
|
106
|
|
|
669
|
|
||||||
Non-GAAP operating income (loss)
|
17
|
|
|
(84
|
)
|
|
(30
|
)
|
|
(21
|
)
|
|
(117
|
)
|
|
14
|
|
||||||
Amortization
|
164
|
|
|
163
|
|
|
162
|
|
|
127
|
|
|
616
|
|
|
72
|
|
||||||
Acquired intangibles amortization
|
(9
|
)
|
|
(11
|
)
|
|
(18
|
)
|
|
(28
|
)
|
|
(66
|
)
|
|
(28
|
)
|
||||||
Adjusted EBITDA
|
$
|
172
|
|
|
$
|
68
|
|
|
$
|
114
|
|
|
$
|
78
|
|
|
$
|
433
|
|
|
$
|
58
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Reconciliation from GAAP Net Income (Loss) to Non-GAAP Net Loss and Non-GAAP Loss per Share
|
Q1 FY16
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
||||||||||||
GAAP Net Income (Loss)
|
$
|
68
|
|
|
$
|
51
|
|
|
$
|
(89
|
)
|
|
$
|
(238
|
)
|
|
$
|
(208
|
)
|
|
$
|
(670
|
)
|
Total Non-GAAP adjustments (three months ended, after-tax)
|
(72
|
)
|
|
(117
|
)
|
|
74
|
|
|
220
|
|
|
106
|
|
|
669
|
|
||||||
Non-GAAP Net Loss
|
$
|
(4
|
)
|
|
$
|
(66
|
)
|
|
$
|
(15
|
)
|
|
$
|
(18
|
)
|
|
$
|
(102
|
)
|
|
$
|
(1
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-GAAP Loss per Share
|
$
|
(0.01
|
)
|
|
$
|
(0.13
|
)
|
|
$
|
(0.03
|
)
|
|
$
|
(0.03
|
)
|
|
$
|
(0.19
|
)
|
|
$
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Shares outstanding for Non-GAAP Loss per share reconciliation
|
529,235
|
|
|
526,314
|
|
|
525,103
|
|
|
524,627
|
|
|
526,303
|
|
|
521,905
|
|
|
Q1 FY16
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
||||||||||||
Research and development
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
||||||
Selling, marketing and administration
|
7
|
|
|
6
|
|
|
(6
|
)
|
|
2
|
|
|
9
|
|
|
(2
|
)
|
||||||
Total CORE Charges
|
$
|
9
|
|
|
$
|
6
|
|
|
$
|
(6
|
)
|
|
$
|
2
|
|
|
$
|
11
|
|
|
$
|
(2
|
)
|
|
Q1 FY16
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
||||||||||||
Cost of sales
|
$
|
21
|
|
|
$
|
14
|
|
|
$
|
5
|
|
|
$
|
4
|
|
|
$
|
44
|
|
|
$
|
7
|
|
Research and development
|
13
|
|
|
14
|
|
|
2
|
|
|
18
|
|
|
47
|
|
|
2
|
|
||||||
Selling, marketing and administration
|
18
|
|
|
51
|
|
|
26
|
|
|
158
|
|
|
253
|
|
|
16
|
|
||||||
Total RAP Charges
|
$
|
52
|
|
|
$
|
79
|
|
|
$
|
33
|
|
|
$
|
180
|
|
|
$
|
344
|
|
|
$
|
25
|
|
|
Q1 FY16
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
||||||||||||
In cost of sales
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Property, plant and equipment
|
$
|
16
|
|
|
$
|
10
|
|
|
$
|
13
|
|
|
12
|
|
|
$
|
51
|
|
|
$
|
12
|
|
|
Intangible assets
|
83
|
|
|
86
|
|
|
81
|
|
|
38
|
|
|
288
|
|
|
6
|
|
||||||
Total in cost of sales
|
99
|
|
|
96
|
|
|
94
|
|
|
50
|
|
|
339
|
|
|
18
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
In operating expenses amortization
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Property, plant and equipment
|
20
|
|
|
22
|
|
|
16
|
|
|
15
|
|
|
73
|
|
|
12
|
|
||||||
Intangible assets
|
45
|
|
|
45
|
|
|
52
|
|
|
62
|
|
|
204
|
|
|
42
|
|
||||||
Total in operating expenses amortization
|
65
|
|
|
67
|
|
|
68
|
|
|
77
|
|
|
277
|
|
|
54
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Total amortization
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Property, plant and equipment
|
36
|
|
|
32
|
|
|
29
|
|
|
27
|
|
|
124
|
|
|
24
|
|
||||||
Intangible assets
|
128
|
|
|
131
|
|
|
133
|
|
|
100
|
|
|
492
|
|
|
48
|
|
||||||
Total amortization
|
$
|
164
|
|
|
$
|
163
|
|
|
$
|
162
|
|
|
$
|
127
|
|
|
$
|
616
|
|
|
$
|
72
|
|
|
BlackBerry Limited
|
|||||
|
(Registrant)
|
|||||
Date:
|
|
June 23, 2016
|
|
By:
|
/s/ James Yersh
|
|
|
Name:
|
James Yersh
|
||||
Title:
|
Chief Financial Officer
|
1 Year BlackBerry Ltd. Chart |
1 Month BlackBerry Ltd. Chart |
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