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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 Profitability in Fiscal 2018 First Quarter
|
2
|
BlackBerry Supplemental Financial Information
|
•
|
Q1 non-GAAP EPS of $0.02 vs. $0.00 a year ago; GAAP EPS of $1.23 vs. ($1.28) loss a year ago
|
•
|
Q1 non-GAAP total revenue of $244 million; GAAP total revenue of $235 million
|
•
|
Q1 non-GAAP Company total software and services revenues of $169 million; GAAP Company total software and services revenues of $160 million
|
•
|
Q1 non-GAAP gross margin of 67%; GAAP gross margin of 64%
|
•
|
Total cash balance increased to $2.6 billion at the end of the fiscal first quarter
|
•
|
Awarded $940 million from the positive outcome of the Qualcomm arbitration
|
•
|
Launched AtHoc ACCOUNT, a new FedRAMP-authorized solution that enables government agencies and large organizations to account for personnel in real time; BlackBerry AtHoc is the only platform to achieve FedRAMP authorization for crisis communications
|
•
|
TCL initiated shipments of the BlackBerry KEYone, as part of the Company’s licensing program
|
•
|
BB Merah Putih initiated shipments of the BlackBerry Aurora, as part of the Company’s licensing program
|
•
|
Launched BlackBerry SHIELD, an assessment tool for cybersecurity risk management; partnered with Allied World to make the tool available to its cyber insurance policyholders
|
•
|
After the quarter, launched QNX Hypervisor 2.0, which enables the partitioning and isolation of safety critical environments in connected cars
|
•
|
After the quarter, announced that Qualcomm is adopting QNX Hypervisor 2.0 in support of its digital cockpit solutions
|
•
|
After the quarter, BlackBerry named a “Leader” in the Gartner Magic Quadrant for Enterprise Mobility Management Suites
|
•
|
After the quarter, announced the general availability of BBM Enterprise SDK to address the Communications Platform as a Service (CPaaS) market; more than 60 ISVs are using the tool to develop mobile apps for iOS and Android
|
Q1 Fiscal 2018 Non-GAAP Adjustments
|
|
For the Three Months Ended May 31, 2017
(in millions) |
||||||||||||||||||||||
|
Income statement location
|
|
Revenue
|
|
Gross margin (before taxes)
|
|
Gross margin % (before taxes)
|
|
Income before income taxes
|
|
Net income
|
|
Basic earnings per share
|
|||||||||||
As reported
|
|
|
$
|
235
|
|
|
$
|
150
|
|
|
63.8
|
%
|
|
$
|
672
|
|
|
$
|
671
|
|
|
$
|
1.26
|
|
Debentures fair value adjustment
(2)
|
Debentures fair value adjustment
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
218
|
|
|
218
|
|
|
|
||||||
RAP charges
(3)
|
Cost of sales
|
|
—
|
|
|
3
|
|
|
1.3
|
%
|
|
3
|
|
|
3
|
|
|
|
||||||
RAP charges
(3)
|
Research and development
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
3
|
|
|
3
|
|
|
|
||||||
RAP charges
(3)
|
Selling, marketing and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
11
|
|
|
11
|
|
|
|
||||||
Software deferred revenue acquired
(4)
|
Revenue
|
|
9
|
|
|
9
|
|
|
1.3
|
%
|
|
9
|
|
|
9
|
|
|
|
||||||
Stock compensation expense
(5)
|
Cost of sales
|
|
—
|
|
|
1
|
|
|
0.3
|
%
|
|
1
|
|
|
1
|
|
|
|
||||||
Stock compensation expense
(5)
|
Research and development
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
4
|
|
|
4
|
|
|
|
||||||
Stock compensation expense
(5)
|
Selling, marketing and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
8
|
|
|
8
|
|
|
|
||||||
Acquired intangibles amortization
(6)
|
Amortization
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
25
|
|
|
25
|
|
|
|
||||||
Business acquisition and integration costs
(7)
|
Selling, marketing and administration
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
11
|
|
|
11
|
|
|
|
||||||
Qualcomm arbitration
award
(8)
|
Qualcomm arbitration award
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
(815
|
)
|
|
(815
|
)
|
|
|
||||||
Qualcomm arbitration
award
(8)
|
Investment income
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
(139
|
)
|
|
(139
|
)
|
|
|
||||||
|
|
|
$
|
244
|
|
|
$
|
163
|
|
|
66.8
|
%
|
|
$
|
11
|
|
|
$
|
10
|
|
|
$
|
0.02
|
|
(1)
|
During the
first quarter
of fiscal
2018
, the Company reported GAAP gross margin of
$150 million
or
63.8%
of revenue. Excluding the impact of the resource alignment program (“RAP”) charges and stock compensation expense included in cost of sales and software deferred revenue acquired included in revenue, the non-GAAP gross margin was
$163 million
, or
66.8%
of revenue.
|
(2)
|
During the
first quarter
of fiscal
2018
, the Company recorded the Q1 Fiscal 2018 Debentures Fair Value Adjustment of
$218 million
. This adjustment was presented on a separate line in the Consolidated Statements of Operations.
|
(3)
|
During the
first quarter
of fiscal
2018
, the Company incurred charges related to the RAP of approximately
$17 million
, of which
$3 million
was included in cost of sales,
$3 million
was included in research and development expense and
$11 million
was included in selling, marketing and administration expense.
|
(4)
|
During the
first quarter
of fiscal
2018
, the Company recorded software deferred revenue acquired but not recognized due to business combination accounting rules of
$9 million
, which was included in enterprise software and services revenue.
|
(5)
|
During the
first quarter
of fiscal
2018
, the Company recorded stock compensation expense of
$13 million
, of which
$1 million
was included in cost of sales,
$4 million
was included in research and development, and
$8 million
was included in selling, marketing and administration expenses.
|
(6)
|
During the
first quarter
of fiscal
2018
, the Company recorded amortization of intangible assets acquired through business combinations of
$25 million
, which was included in amortization expense.
|
(7)
|
During the
first quarter
of fiscal
2018
, the Company recorded business acquisition and integration costs incurred through business combinations of
$11 million
, which was included in selling, marketing and administration expenses.
|
(8)
|
During the
first quarter
of fiscal
2018
, the Company recorded the Qualcomm arbitration award of
$954 million
, of which
$815 million
was presented on a separate line in the Consolidated Statements of Operations, and
$139 million
was included in investment income.
|
|
|
For the quarters ended
|
|||||||||||||||||||||||||||||||||
|
|
May 31, 2017
|
|
February 28, 2017
|
|
November 30, 2016
|
|
August 31, 2016
|
|
May 31, 2016
|
|||||||||||||||||||||||||
North America
|
|
$
|
127
|
|
|
54.0
|
%
|
|
$
|
166
|
|
|
58.0
|
%
|
|
$
|
167
|
|
|
57.8
|
%
|
|
$
|
190
|
|
|
56.9
|
%
|
|
$
|
177
|
|
|
44.3
|
%
|
Europe, Middle East and Africa
|
|
70
|
|
|
29.8
|
%
|
|
83
|
|
|
29.0
|
%
|
|
87
|
|
|
30.1
|
%
|
|
100
|
|
|
29.9
|
%
|
|
166
|
|
|
41.5
|
%
|
|||||
Latin America
|
|
4
|
|
|
1.7
|
%
|
|
5
|
|
|
1.8
|
%
|
|
7
|
|
|
2.4
|
%
|
|
13
|
|
|
3.9
|
%
|
|
10
|
|
|
2.5
|
%
|
|||||
Asia Pacific
|
|
34
|
|
|
14.5
|
%
|
|
32
|
|
|
11.2
|
%
|
|
28
|
|
|
9.7
|
%
|
|
31
|
|
|
9.3
|
%
|
|
47
|
|
|
11.8
|
%
|
|||||
Total
|
|
$
|
235
|
|
|
100.0
|
%
|
|
$
|
286
|
|
|
100.0
|
%
|
|
$
|
289
|
|
|
100.0
|
%
|
|
$
|
334
|
|
|
100.0
|
%
|
|
$
|
400
|
|
|
100.0
|
%
|
|
US GAAP
|
|
Adjustments
|
|
Non-GAAP
|
||||||||||||||||||
|
Three months ended
|
|
Three months ended
|
|
Three months ended
|
||||||||||||||||||
|
May 31, 2017
|
|
May 31, 2016
|
|
May 31, 2017
|
|
May 31, 2016
|
|
May 31, 2017
|
|
May 31, 2016
|
||||||||||||
Enterprise software and services
|
$
|
92
|
|
|
$
|
82
|
|
|
$
|
9
|
|
|
$
|
24
|
|
|
$
|
101
|
|
|
$
|
106
|
|
BlackBerry Technology Solutions
|
36
|
|
|
35
|
|
|
—
|
|
|
—
|
|
|
36
|
|
|
35
|
|
||||||
Licensing, IP and other
|
32
|
|
|
25
|
|
|
—
|
|
|
—
|
|
|
32
|
|
|
25
|
|
||||||
Handheld devices
|
37
|
|
|
152
|
|
|
—
|
|
|
—
|
|
|
37
|
|
|
152
|
|
||||||
SAF
|
38
|
|
|
106
|
|
|
—
|
|
|
—
|
|
|
38
|
|
|
106
|
|
||||||
Total
|
$
|
235
|
|
|
$
|
400
|
|
|
$
|
9
|
|
|
$
|
24
|
|
|
$
|
244
|
|
|
$
|
424
|
|
|
|
For the three months ended
|
||||||||||
|
|
May 31, 2017
|
|
February 28, 2017
|
|
May 31, 2016
|
||||||
Revenue
|
|
$
|
235
|
|
|
$
|
286
|
|
|
$
|
400
|
|
Cost of sales
|
|
85
|
|
|
114
|
|
|
246
|
|
|||
Gross margin
|
|
150
|
|
|
172
|
|
|
154
|
|
|||
Gross margin %
|
|
63.8
|
%
|
|
60.1
|
%
|
|
38.5
|
%
|
|||
Operating expenses
|
|
|
|
|
|
|
||||||
Research and development
|
|
61
|
|
|
57
|
|
|
89
|
|
|||
Selling, marketing and administration
|
|
110
|
|
|
143
|
|
|
132
|
|
|||
Amortization
|
|
40
|
|
|
45
|
|
|
54
|
|
|||
Impairment of goodwill
|
|
—
|
|
|
—
|
|
|
57
|
|
|||
Impairment of long-lived assets
|
|
—
|
|
|
—
|
|
|
501
|
|
|||
Debentures fair value adjustment
|
|
218
|
|
|
(16
|
)
|
|
(24
|
)
|
|||
Qualcomm arbitration award
|
|
(815
|
)
|
|
—
|
|
|
—
|
|
|||
|
|
(386
|
)
|
|
229
|
|
|
809
|
|
|||
Operating income (loss)
|
|
536
|
|
|
(57
|
)
|
|
(655
|
)
|
|||
Investment income (loss), net
|
|
136
|
|
|
8
|
|
|
(15
|
)
|
|||
Income (loss) before income taxes
|
|
672
|
|
|
(49
|
)
|
|
(670
|
)
|
|||
Provision for (recovery of) income taxes
|
|
1
|
|
|
(2
|
)
|
|
—
|
|
|||
Net income (loss)
|
|
$
|
671
|
|
|
$
|
(47
|
)
|
|
$
|
(670
|
)
|
Loss per share
|
|
|
|
|
|
|
|
|
|
|||
Basic
|
|
$
|
1.26
|
|
|
$
|
(0.09
|
)
|
|
$
|
(1.28
|
)
|
Diluted
|
|
$
|
1.23
|
|
|
$
|
(0.10
|
)
|
|
$
|
(1.28
|
)
|
|
|
|
|
|
|
|
||||||
Weighted-average number of common shares outstanding (000’s)
|
|
|
|
|
|
|
|
|
|
|||
Basic
|
|
531,096
|
|
|
530,352
|
|
|
521,905
|
|
|||
Diluted
|
|
544,077
|
|
|
590,852
|
|
|
521,905
|
|
|||
Total common shares outstanding (000’s)
|
|
531,476
|
|
|
530,497
|
|
|
522,517
|
|
As at
|
|
May 31, 2017
|
|
February 28, 2017
|
||||
Assets
|
|
|
|
|
||||
Current
|
|
|
|
|
||||
Cash and cash equivalents
|
|
$
|
933
|
|
|
$
|
734
|
|
Short-term investments
|
|
1,278
|
|
|
644
|
|
||
Accounts receivable, net
|
|
152
|
|
|
181
|
|
||
Other receivables
|
|
30
|
|
|
34
|
|
||
Inventories
|
|
11
|
|
|
26
|
|
||
Income taxes receivable
|
|
12
|
|
|
17
|
|
||
Other current assets
|
|
48
|
|
|
55
|
|
||
|
|
2,464
|
|
|
1,691
|
|
||
Long-term investments
|
|
294
|
|
|
269
|
|
||
Restricted cash and cash equivalents
|
|
48
|
|
|
51
|
|
||
Property, plant and equipment, net
|
|
81
|
|
|
91
|
|
||
Goodwill
|
|
563
|
|
|
559
|
|
||
Intangible assets, net
|
|
569
|
|
|
602
|
|
||
Deferred income tax asset
|
|
—
|
|
|
—
|
|
||
|
|
$
|
4,019
|
|
|
$
|
3,263
|
|
Liabilities
|
|
|
|
|
|
|
||
Current
|
|
|
|
|
|
|
||
Accounts payable
|
|
$
|
48
|
|
|
$
|
103
|
|
Accrued liabilities
|
|
204
|
|
|
258
|
|
||
Deferred revenue
|
|
211
|
|
|
245
|
|
||
|
|
463
|
|
|
606
|
|
||
Long-term debt
|
|
809
|
|
|
591
|
|
||
Deferred income tax liability
|
|
9
|
|
|
9
|
|
||
|
|
1,281
|
|
|
1,206
|
|
||
Shareholders’ equity
|
|
|
|
|
|
|||
Capital stock and additional paid-in capital
|
|
2,528
|
|
|
2,512
|
|
||
Retained earnings (deficit)
|
|
227
|
|
|
(438
|
)
|
||
Accumulated other comprehensive loss
|
|
(17
|
)
|
|
(17
|
)
|
||
|
|
2,738
|
|
|
2,057
|
|
||
|
|
$
|
4,019
|
|
|
$
|
3,263
|
|
|
|
For the three months ended
|
||||||
|
|
May 31, 2017
|
|
May 31, 2016
|
||||
Cash flows from operating activities
|
|
|
|
|
||||
Net income (loss)
|
|
$
|
671
|
|
|
$
|
(670
|
)
|
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
|
|
|
|
|
||||
Amortization
|
|
51
|
|
|
72
|
|
||
Deferred income taxes
|
|
—
|
|
|
32
|
|
||
Stock-based compensation
|
|
13
|
|
|
12
|
|
||
Loss on disposal of property, plant and equipment
|
|
—
|
|
|
1
|
|
||
Impairment of goodwill
|
|
—
|
|
|
57
|
|
||
Impairment of long-lived assets
|
|
—
|
|
|
501
|
|
||
Other-than-temporary impairment on cost-based investments
|
|
—
|
|
|
7
|
|
||
Debentures fair value adjustment
|
|
218
|
|
|
(24
|
)
|
||
Other
|
|
1
|
|
|
3
|
|
||
Net changes in working capital items:
|
|
|
|
|
||||
Accounts receivable, net
|
|
29
|
|
|
73
|
|
||
Other receivables
|
|
4
|
|
|
(4
|
)
|
||
Inventories
|
|
15
|
|
|
16
|
|
||
Income taxes receivable
|
|
(1
|
)
|
|
(25
|
)
|
||
Other current assets
|
|
6
|
|
|
8
|
|
||
Accounts payable
|
|
(55
|
)
|
|
8
|
|
||
Income taxes payable
|
|
—
|
|
|
(9
|
)
|
||
Accrued liabilities
|
|
(55
|
)
|
|
(53
|
)
|
||
Deferred revenue
|
|
(34
|
)
|
|
(66
|
)
|
||
Net cash provided by (used in) operating activities
|
|
863
|
|
|
(61
|
)
|
||
Cash flows from investing activities
|
|
|
|
|
||||
Acquisition of long-term investments
|
|
(25
|
)
|
|
(163
|
)
|
||
Proceeds on sale or maturity of long-term investments
|
|
—
|
|
|
32
|
|
||
Acquisition of property, plant and equipment
|
|
(3
|
)
|
|
(4
|
)
|
||
Proceeds on sale of property, plant and equipment
|
|
1
|
|
|
—
|
|
||
Acquisition of intangible assets
|
|
(7
|
)
|
|
(9
|
)
|
||
Acquisition of short-term investments
|
|
(1,015
|
)
|
|
(389
|
)
|
||
Proceeds on sale or maturity of short-term investments
|
|
378
|
|
|
875
|
|
||
Net cash provided by (used in) investing activities
|
|
(671
|
)
|
|
342
|
|
||
Cash flows from financing activities
|
|
|
|
|
||||
Issuance of common shares
|
|
3
|
|
|
3
|
|
||
Payment of contingent consideration from business acquisitions
|
|
—
|
|
|
(15
|
)
|
||
Effect of foreign exchange loss on restricted cash and cash equivalents
|
|
—
|
|
|
(3
|
)
|
||
Transfer from restricted cash
|
|
3
|
|
|
—
|
|
||
Net cash used in financing activities
|
|
6
|
|
|
(15
|
)
|
||
Effect of foreign exchange gain on cash and cash equivalents
|
|
1
|
|
|
2
|
|
||
Net decrease in cash and cash equivalents during the period
|
|
199
|
|
|
268
|
|
||
Cash and cash equivalents, beginning of period
|
|
734
|
|
|
957
|
|
||
Cash and cash equivalents, end of period
|
|
$
|
933
|
|
|
$
|
1,225
|
|
|
|
|
|
|
||||
As at
|
|
May 31, 2017
|
|
February 28, 2017
|
||||
Cash and cash equivalents
|
|
$
|
933
|
|
|
$
|
734
|
|
Short-term investments
|
|
1,278
|
|
|
644
|
|
||
Long-term investments
|
|
294
|
|
|
269
|
|
||
Restricted cash
|
|
48
|
|
|
51
|
|
||
|
|
$
|
2,553
|
|
|
$
|
1,698
|
|
GAAP Income Statement (Three Months Ended)
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
|
Q2 FY17
|
|
Q3 FY17
|
|
Q4 FY17
|
|
FY17
|
|
Q1 FY18
|
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Software and services
|
$
|
73
|
|
|
$
|
155
|
|
|
$
|
131
|
|
|
$
|
497
|
|
|
$
|
142
|
|
|
$
|
138
|
|
|
$
|
160
|
|
|
$
|
182
|
|
|
$
|
622
|
|
|
$
|
160
|
|
Handheld devices
|
206
|
|
|
220
|
|
|
190
|
|
|
884
|
|
|
152
|
|
|
105
|
|
|
62
|
|
|
55
|
|
|
374
|
|
|
37
|
|
||||||||||
Service access fees
|
211
|
|
|
173
|
|
|
143
|
|
|
779
|
|
|
106
|
|
|
91
|
|
|
67
|
|
|
49
|
|
|
313
|
|
|
38
|
|
||||||||||
Revenue
|
490
|
|
|
548
|
|
|
464
|
|
|
2,160
|
|
|
400
|
|
|
334
|
|
|
289
|
|
|
286
|
|
|
1,309
|
|
|
235
|
|
||||||||||
Cost of sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Cost of sales
|
301
|
|
|
303
|
|
|
251
|
|
|
1,183
|
|
|
200
|
|
|
139
|
|
|
94
|
|
|
110
|
|
|
542
|
|
|
85
|
|
||||||||||
Inventory write-down
|
4
|
|
|
9
|
|
|
3
|
|
|
36
|
|
|
46
|
|
|
97
|
|
|
2
|
|
|
4
|
|
|
150
|
|
|
—
|
|
||||||||||
Total cost of sales
|
305
|
|
|
312
|
|
|
254
|
|
|
1,219
|
|
|
246
|
|
|
236
|
|
|
96
|
|
|
114
|
|
|
692
|
|
|
85
|
|
||||||||||
Gross margin
|
185
|
|
|
236
|
|
|
210
|
|
|
941
|
|
|
154
|
|
|
98
|
|
|
193
|
|
|
172
|
|
|
617
|
|
|
150
|
|
||||||||||
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Research and development
|
122
|
|
|
100
|
|
|
108
|
|
|
469
|
|
|
89
|
|
|
85
|
|
|
75
|
|
|
57
|
|
|
306
|
|
|
61
|
|
||||||||||
Selling, marketing and administration
|
157
|
|
|
170
|
|
|
166
|
|
|
653
|
|
|
129
|
|
|
138
|
|
|
141
|
|
|
144
|
|
|
553
|
|
|
109
|
|
||||||||||
Amortization
|
67
|
|
|
68
|
|
|
77
|
|
|
277
|
|
|
54
|
|
|
44
|
|
|
43
|
|
|
45
|
|
|
186
|
|
|
40
|
|
||||||||||
Impairment of goodwill
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
57
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
57
|
|
|
—
|
|
||||||||||
Impairment of long-lived assets
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
501
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
501
|
|
|
—
|
|
||||||||||
Loss on sale, disposal and abandonment of long-lived assets
|
34
|
|
|
7
|
|
|
140
|
|
|
195
|
|
|
3
|
|
|
124
|
|
|
46
|
|
|
(1
|
)
|
|
171
|
|
|
1
|
|
||||||||||
Debentures fair value adjustment
|
(228
|
)
|
|
(5
|
)
|
|
(40
|
)
|
|
(430
|
)
|
|
(24
|
)
|
|
62
|
|
|
2
|
|
|
(16
|
)
|
|
24
|
|
|
218
|
|
||||||||||
Qualcomm arbitration award
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(815
|
)
|
||||||||||
Total operating expenses
|
152
|
|
|
340
|
|
|
451
|
|
|
1,164
|
|
|
809
|
|
|
453
|
|
|
307
|
|
|
229
|
|
|
1,798
|
|
|
(386
|
)
|
||||||||||
Operating income (loss)
|
33
|
|
|
(104
|
)
|
|
(241
|
)
|
|
(223
|
)
|
|
(655
|
)
|
|
(355
|
)
|
|
(114
|
)
|
|
(57
|
)
|
|
(1,181
|
)
|
|
536
|
|
||||||||||
Investment income (loss), net
|
(12
|
)
|
|
(16
|
)
|
|
(15
|
)
|
|
(59
|
)
|
|
(15
|
)
|
|
(16
|
)
|
|
(4
|
)
|
|
8
|
|
|
(27
|
)
|
|
136
|
|
||||||||||
Income (loss) before income taxes
|
21
|
|
|
(120
|
)
|
|
(256
|
)
|
|
(282
|
)
|
|
(670
|
)
|
|
(371
|
)
|
|
(118
|
)
|
|
(49
|
)
|
|
(1,208
|
)
|
|
672
|
|
||||||||||
Provision for (recovery of) income taxes
|
(30
|
)
|
|
(31
|
)
|
|
(18
|
)
|
|
(74
|
)
|
|
—
|
|
|
1
|
|
|
(1
|
)
|
|
(2
|
)
|
|
(2
|
)
|
|
1
|
|
||||||||||
Net income (loss)
|
$
|
51
|
|
|
$
|
(89
|
)
|
|
$
|
(238
|
)
|
|
$
|
(208
|
)
|
|
$
|
(670
|
)
|
|
$
|
(372
|
)
|
|
$
|
(117
|
)
|
|
$
|
(47
|
)
|
|
$
|
(1,206
|
)
|
|
$
|
671
|
|
Earnings (loss) per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Basic earnings (loss) per share
|
$
|
0.10
|
|
|
$
|
(0.17
|
)
|
|
$
|
(0.45
|
)
|
|
$
|
(0.40
|
)
|
|
$
|
(1.28
|
)
|
|
$
|
(0.71
|
)
|
|
$
|
(0.22
|
)
|
|
$
|
(0.09
|
)
|
|
$
|
(2.30
|
)
|
|
$
|
1.26
|
|
Diluted earnings (loss) per share
|
$
|
(0.24
|
)
|
|
$
|
(0.17
|
)
|
|
$
|
(0.45
|
)
|
|
$
|
(0.86
|
)
|
|
$
|
(1.28
|
)
|
|
$
|
(0.71
|
)
|
|
$
|
(0.22
|
)
|
|
$
|
(0.10
|
)
|
|
$
|
(2.30
|
)
|
|
$
|
1.23
|
|
Weighted-average number of common shares outstanding (000’s)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Basic
|
526,314
|
|
|
525,103
|
|
|
524,627
|
|
|
526,303
|
|
|
521,905
|
|
|
522,826
|
|
|
526,102
|
|
|
530,352
|
|
|
525,265
|
|
|
531,096
|
|
||||||||||
Diluted
|
667,321
|
|
|
525,103
|
|
|
524,627
|
|
|
651,303
|
|
|
521,905
|
|
|
522,826
|
|
|
526,102
|
|
|
590,852
|
|
|
525,265
|
|
|
544,077
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Non-GAAP Adjustments (Three Months Ended, Pre-Tax and After Tax)
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
|
Q2 FY17
|
|
Q3 FY17
|
|
Q4 FY17
|
|
FY17
|
|
Q1 FY18
|
||||||||||||||||||||
LLA impairment charge
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
501
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
501
|
|
|
$
|
—
|
|
Goodwill impairment charge
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
57
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
57
|
|
|
—
|
|
||||||||||
Inventory write-down
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
41
|
|
|
96
|
|
|
—
|
|
|
4
|
|
|
141
|
|
|
—
|
|
||||||||||
Debentures fair value adjustment
|
(228
|
)
|
|
(5
|
)
|
|
(40
|
)
|
|
(430
|
)
|
|
(24
|
)
|
|
62
|
|
|
2
|
|
|
(16
|
)
|
|
24
|
|
|
218
|
|
||||||||||
Write-down of assets held for sale
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
123
|
|
|
42
|
|
|
—
|
|
|
165
|
|
|
—
|
|
||||||||||
RAP charges (including patent abandonments)
|
79
|
|
|
33
|
|
|
180
|
|
|
344
|
|
|
25
|
|
|
24
|
|
|
24
|
|
|
25
|
|
|
99
|
|
|
17
|
|
||||||||||
CORE program charges (recoveries)
|
6
|
|
|
(6
|
)
|
|
2
|
|
|
11
|
|
|
(2
|
)
|
|
(2
|
)
|
|
(2
|
)
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
||||||||||
Software deferred revenue acquired
|
1
|
|
|
9
|
|
|
23
|
|
|
33
|
|
|
24
|
|
|
18
|
|
|
12
|
|
|
11
|
|
|
65
|
|
|
9
|
|
||||||||||
Stock compensation expense
|
14
|
|
|
14
|
|
|
17
|
|
|
60
|
|
|
12
|
|
|
18
|
|
|
15
|
|
|
15
|
|
|
60
|
|
|
13
|
|
||||||||||
Acquired intangibles amortization
|
11
|
|
|
18
|
|
|
28
|
|
|
66
|
|
|
28
|
|
|
28
|
|
|
28
|
|
|
28
|
|
|
112
|
|
|
25
|
|
||||||||||
Business acquisition and integration
|
—
|
|
|
11
|
|
|
10
|
|
|
22
|
|
|
7
|
|
|
4
|
|
|
5
|
|
|
3
|
|
|
19
|
|
|
11
|
|
||||||||||
Qualcomm arbitration award
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(954
|
)
|
||||||||||
Total Non-GAAP Adjustments (Three Months Ended, Pre-Tax and After Tax)
|
$
|
(117
|
)
|
|
$
|
74
|
|
|
$
|
220
|
|
|
$
|
106
|
|
|
$
|
669
|
|
|
$
|
371
|
|
|
$
|
126
|
|
|
$
|
70
|
|
|
$
|
1,236
|
|
|
$
|
(661
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Non-GAAP Gross Profit
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
|
Q2 FY17
|
|
Q3 FY17
|
|
Q4 FY17
|
|
FY17
|
|
Q1 FY18
|
||||||||||||||||||||
GAAP revenue
|
$
|
490
|
|
|
$
|
548
|
|
|
$
|
464
|
|
|
$
|
2,160
|
|
|
$
|
400
|
|
|
$
|
334
|
|
|
$
|
289
|
|
|
$
|
286
|
|
|
$
|
1,309
|
|
|
$
|
235
|
|
Software deferred revenue acquired
|
1
|
|
|
9
|
|
|
23
|
|
|
33
|
|
|
24
|
|
|
18
|
|
|
12
|
|
|
11
|
|
|
65
|
|
|
9
|
|
||||||||||
Non-GAAP revenue
|
491
|
|
|
557
|
|
|
487
|
|
|
2,193
|
|
|
424
|
|
|
352
|
|
|
301
|
|
|
297
|
|
|
1,374
|
|
|
244
|
|
||||||||||
Total cost of sales
|
(305
|
)
|
|
(312
|
)
|
|
(254
|
)
|
|
(1,219
|
)
|
|
(246
|
)
|
|
(236
|
)
|
|
(96
|
)
|
|
(114
|
)
|
|
(692
|
)
|
|
(85
|
)
|
||||||||||
Non-GAAP adjustments to cost of sales
|
15
|
|
|
5
|
|
|
4
|
|
|
45
|
|
|
48
|
|
|
103
|
|
|
5
|
|
|
11
|
|
|
167
|
|
|
4
|
|
||||||||||
Non-GAAP Gross Profit
|
$
|
201
|
|
|
$
|
250
|
|
|
$
|
237
|
|
|
$
|
1,019
|
|
|
$
|
226
|
|
|
$
|
219
|
|
|
$
|
210
|
|
|
$
|
194
|
|
|
$
|
849
|
|
|
$
|
163
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Adjusted EBITDA
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
|
Q2 FY17
|
|
Q3 FY17
|
|
Q4 FY17
|
|
FY17
|
|
Q1 FY18
|
||||||||||||||||||||
GAAP operating income (loss)
|
$
|
33
|
|
|
$
|
(104
|
)
|
|
$
|
(241
|
)
|
|
$
|
(223
|
)
|
|
$
|
(655
|
)
|
|
$
|
(355
|
)
|
|
$
|
(114
|
)
|
|
$
|
(57
|
)
|
|
$
|
(1,181
|
)
|
|
$
|
536
|
|
Non-GAAP adjustments to operating income (loss)
|
(117
|
)
|
|
74
|
|
|
220
|
|
|
106
|
|
|
669
|
|
|
371
|
|
|
126
|
|
|
70
|
|
|
1,236
|
|
|
(522
|
)
|
||||||||||
Non-GAAP operating income (loss)
|
(84
|
)
|
|
(30
|
)
|
|
(21
|
)
|
|
(117
|
)
|
|
14
|
|
|
16
|
|
|
12
|
|
|
13
|
|
|
55
|
|
|
14
|
|
||||||||||
Amortization
|
163
|
|
|
162
|
|
|
127
|
|
|
616
|
|
|
72
|
|
|
57
|
|
|
53
|
|
|
57
|
|
|
239
|
|
|
51
|
|
||||||||||
Acquired intangibles amortization
|
(11
|
)
|
|
(18
|
)
|
|
(28
|
)
|
|
(66
|
)
|
|
(28
|
)
|
|
(28
|
)
|
|
(28
|
)
|
|
(28
|
)
|
|
(112
|
)
|
|
(25
|
)
|
||||||||||
Adjusted EBITDA
|
$
|
68
|
|
|
$
|
114
|
|
|
$
|
78
|
|
|
$
|
433
|
|
|
$
|
58
|
|
|
$
|
45
|
|
|
$
|
37
|
|
|
$
|
42
|
|
|
$
|
182
|
|
|
$
|
40
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Reconciliation from GAAP Net Income (Loss) to Non-GAAP Net Loss and Non-GAAP Loss per Share
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
|
Q2 FY17
|
|
Q3 FY17
|
|
Q4 FY17
|
|
FY17
|
|
Q1 FY18
|
||||||||||||||||||||
GAAP Net Income (Loss)
|
$
|
51
|
|
|
$
|
(89
|
)
|
|
$
|
(238
|
)
|
|
$
|
(208
|
)
|
|
$
|
(670
|
)
|
|
$
|
(372
|
)
|
|
$
|
(117
|
)
|
|
$
|
(47
|
)
|
|
$
|
(1,206
|
)
|
|
$
|
671
|
|
Total Non-GAAP adjustments (three months ended, after-tax)
|
(117
|
)
|
|
74
|
|
|
220
|
|
|
106
|
|
|
669
|
|
|
371
|
|
|
126
|
|
|
70
|
|
|
1,236
|
|
|
(661
|
)
|
||||||||||
Non-GAAP Net Income (Loss)
|
$
|
(66
|
)
|
|
$
|
(15
|
)
|
|
$
|
(18
|
)
|
|
$
|
(102
|
)
|
|
$
|
(1
|
)
|
|
$
|
(1
|
)
|
|
$
|
9
|
|
|
$
|
23
|
|
|
$
|
30
|
|
|
$
|
10
|
|
Non-GAAP Income (Loss) per Share
|
$
|
(0.13
|
)
|
|
$
|
(0.03
|
)
|
|
$
|
(0.03
|
)
|
|
$
|
(0.19
|
)
|
|
$
|
0.00
|
|
|
$
|
0.00
|
|
|
$
|
0.02
|
|
|
$
|
0.04
|
|
|
$
|
0.06
|
|
|
$
|
0.02
|
|
Shares outstanding for Non-GAAP Income (Loss) per share reconciliation
|
526,314
|
|
|
525,103
|
|
|
524,627
|
|
|
526,303
|
|
|
521,905
|
|
|
522,826
|
|
|
526,102
|
|
|
530,352
|
|
|
525,265
|
|
|
531,096
|
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
|
Q2 FY17
|
|
Q3 FY17
|
|
Q4 FY17
|
|
FY17
|
|
Q1 FY18
|
||||||||||||||||||||
Research and development
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||
Selling, marketing and administration
|
6
|
|
|
(6
|
)
|
|
2
|
|
|
9
|
|
|
(2
|
)
|
|
(2
|
)
|
|
(2
|
)
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
||||||||||
Total CORE charges (recoveries)
|
$
|
6
|
|
|
$
|
(6
|
)
|
|
$
|
2
|
|
|
$
|
11
|
|
|
$
|
(2
|
)
|
|
$
|
(2
|
)
|
|
$
|
(2
|
)
|
|
$
|
—
|
|
|
$
|
(7
|
)
|
|
$
|
—
|
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
|
Q2 FY17
|
|
Q3 FY17
|
|
Q4 FY17
|
|
FY17
|
|
Q1 FY18
|
||||||||||||||||||||
Cost of sales
|
$
|
14
|
|
|
$
|
5
|
|
|
$
|
4
|
|
|
$
|
44
|
|
|
$
|
7
|
|
|
$
|
7
|
|
|
$
|
5
|
|
|
$
|
6
|
|
|
$
|
25
|
|
|
$
|
3
|
|
Research and development
|
14
|
|
|
2
|
|
|
18
|
|
|
47
|
|
|
2
|
|
|
—
|
|
|
(1
|
)
|
|
3
|
|
|
4
|
|
|
3
|
|
||||||||||
Selling, marketing and administration
|
51
|
|
|
26
|
|
|
158
|
|
|
253
|
|
|
16
|
|
|
140
|
|
|
62
|
|
|
16
|
|
|
235
|
|
|
11
|
|
||||||||||
Total RAP charges
|
$
|
79
|
|
|
$
|
33
|
|
|
$
|
180
|
|
|
$
|
344
|
|
|
$
|
25
|
|
|
$
|
147
|
|
|
$
|
66
|
|
|
$
|
25
|
|
|
$
|
264
|
|
|
$
|
17
|
|
|
Q2 FY16
|
|
Q3 FY16
|
|
Q4 FY16
|
|
FY16
|
|
Q1 FY17
|
|
Q2 FY17
|
|
Q3 FY17
|
|
Q4 FY17
|
|
FY17
|
|
Q1 FY18
|
||||||||||||||||||||
In cost of sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Property, plant and equipment
|
$
|
10
|
|
|
$
|
13
|
|
|
12
|
|
|
$
|
51
|
|
|
$
|
12
|
|
|
$
|
12
|
|
|
$
|
10
|
|
|
$
|
9
|
|
|
$
|
43
|
|
|
$
|
7
|
|
|
Intangible assets
|
86
|
|
|
81
|
|
|
38
|
|
|
288
|
|
|
6
|
|
|
1
|
|
|
—
|
|
|
3
|
|
|
10
|
|
|
4
|
|
||||||||||
Total in cost of sales
|
96
|
|
|
94
|
|
|
50
|
|
|
339
|
|
|
18
|
|
|
13
|
|
|
10
|
|
|
12
|
|
|
53
|
|
|
11
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
In operating expenses amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Property, plant and equipment
|
22
|
|
|
16
|
|
|
15
|
|
|
73
|
|
|
12
|
|
|
8
|
|
|
6
|
|
|
7
|
|
|
33
|
|
|
5
|
|
||||||||||
Intangible assets
|
45
|
|
|
52
|
|
|
62
|
|
|
204
|
|
|
42
|
|
|
36
|
|
|
37
|
|
|
38
|
|
|
153
|
|
|
35
|
|
||||||||||
Total in operating expenses amortization
|
67
|
|
|
68
|
|
|
77
|
|
|
212
|
|
|
54
|
|
|
44
|
|
|
43
|
|
|
45
|
|
|
186
|
|
|
40
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Total amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Property, plant and equipment
|
32
|
|
|
29
|
|
|
27
|
|
|
124
|
|
|
24
|
|
|
20
|
|
|
16
|
|
|
16
|
|
|
76
|
|
|
12
|
|
||||||||||
Intangible assets
|
131
|
|
|
133
|
|
|
100
|
|
|
492
|
|
|
48
|
|
|
37
|
|
|
37
|
|
|
41
|
|
|
163
|
|
|
39
|
|
||||||||||
Total amortization
|
$
|
163
|
|
|
$
|
162
|
|
|
$
|
127
|
|
|
$
|
616
|
|
|
$
|
72
|
|
|
$
|
57
|
|
|
$
|
53
|
|
|
$
|
57
|
|
|
$
|
239
|
|
|
$
|
51
|
|
|
BlackBerry Limited
|
|||||
|
(Registrant)
|
|||||
Date:
|
|
06/23/2017
|
|
By:
|
/s/ Steven Capelli
|
|
|
Name:
|
Steven Capelli
|
||||
Title:
|
Chief Financial Officer
|
1 Year BlackBerry Ltd. Chart |
1 Month BlackBerry Ltd. Chart |
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