BlackBerry has just reported their financial results for the three months ended November 29, 2014 (Note: all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated). This earnings results is pretty positive on its own, and comparing with the last few quarters, these results are very very good. So go ahead and check it out!
|Spoiler Inside: Q3 announcement||SelectShow>|
– Cash and investments balance of $3.1 billion at the end of the fiscal
Non-GAAP profit for the third quarter was $6 million, or $0.01 per share, reversing a loss of $0.02 last quarter. GAAP net loss for the quarter was $148 million, or $0.28 per share. The GAAP net loss includes a non-cash charge associated with the change in the fair value of the debentures of $150 million (the “Q3 Fiscal 2015 Debentures Fair Value Adjustment”) and pre-tax restructuring charges of $5 million related to the restructuring program. The impact of these adjustments on GAAP net loss and loss per share is summarized in a table below.
Total cash, cash equivalents, short-term and long-term investments was $3.1 billion as of November 29, 2014. The cash balance increased $43 million in the third quarter, excluding net outlays of $31 million related to acquisitions during the quarter. Purchase obligations and other commitments amounted to approximately $1.6 billion as of November 29, 2014, with purchase orders with contract manufacturers representing approximately $565 million of the total, compared to $344 million at the end of the second quarter.
“We achieved a key milestone in our eight quarter plan with positive cash flow. We also attained another important milestone in the release of our new enterprise software products and devices,” said Executive Chairman and CEO John Chen. “Our focus now turns to expanding our distribution and driving revenue growth.”
The Company continues to anticipate maintaining its strong cash position, while increasingly looking for opportunities to prudently invest in growth. The Company continues to anticipate break-even or better cash flow from operations.
The Company is expanding its distribution capability, and expects traction from these efforts to manifest some time in fiscal 2016. The company continues to target sustainable non-GAAP profitability some time in fiscal 2016.
Reconciliation of GAAP loss before income taxes, net income (loss) and earnings (loss) per share to Non-GAAP loss before income taxes, net income (loss) and earnings (loss) per share:
(United States dollars, in millions except per share data)
Q3 Fiscal 2015 Debenture Fair
Note: Non-GAAP loss before income taxes, non-GAAP net income and non-GAAP earnings per share do not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of these non-GAAP measures enables the Company and its shareholders to better assess the Company’s operating results relative to its operating results in prior periods and improves the comparability of the information presented. Investors should consider these non-GAAP measures in the context of the Company’s GAAP results.
1. During the third quarter of fiscal 2015, the Company incurred charges
Supplementary Geographic Revenue Breakdown
For the quarter ended
For the quarter ended
Conference Call and Webcast