Blackberry has recognized hardware revenue on approximately 3.7 million BlackBerry smartphones.
Blackberry since more or less 2 years crosses its worst moments as a
company and as an international mark. Pending to become a private company,
Blackberry has unveiled this afternoon, the second quarter results for the
three months ended August 31, 2013 (all figures in U.S. dollars and U.S. GAAP).
Connectikpeople has observed that, revenue for the second quarter of fiscal
2014 was approximately $1.6 billion, down 49% from $3.1 billion in the previous
quarter and down 45% from $2.9 billion in the same quarter of fiscal 2013.
The revenue breakdown for the quarter was approximately 49% for hardware,
46% for
service and 5% for software and other revenue. Most of the units
recognized are BlackBerry 7 devices, in part because certain BlackBerry 10
devices that were shipped in the second quarter of fiscal 2014 will not be
recognized until those devices are sold through to end customers. During the
quarter, approximately 5.9 million BlackBerry smartphones were sold through to
end customers, which included shipments made prior to the second quarter and
which reduced the Company's inventory in the channel.
The GAAP loss from continuing operations for the quarter was $965 million,
or $1.84 per share diluted, including a primarily non-cash, pre-tax charge
against inventory and supply commitments of approximately $934 million (the
"Z10 Inventory Charge"), and pre-tax restructuring charges of
approximately $72 million related to the Cost Optimization and Resource Efficiency
("CORE") program. This is compared with a GAAP loss from continuing
operations of $84 million, or $0.16 per share diluted in the prior quarter and
GAAP loss from continuing operations of $229 million, or $0.44 per share
diluted, in the same quarter last year.
The adjusted loss from continuing operations for the second quarter was
$248 million, or $0.47 per share diluted. The adjusted loss from continuing
operations and adjusted diluted loss per share exclude the impact of the Z10
Inventory Charge of approximately $934 million ($666 million after tax) and
pre-tax restructuring charges of approximately $72 million ($51 million after
tax) related to the CORE program incurred in the second quarter of fiscal 2014.
These impacts on GAAP loss from continuing operations and diluted loss per
share from continuing operations are summarized in the table below.
The total of cash, cash equivalents, short-term and long-term investments
was $2.6 billion as of August 31, 2013, compared to $3.1 billion at the end of the
previous quarter. Cash flow used in operations in the second quarter was
approximately $136 million. Uses of cash included intangible asset additions of
approximately $268 million and capital expenditures of approximately $112
million.
"While our company goes through the
necessary changes to create the best business model for our hardware business,
we continue to see confidence from our customers through the increasing
penetration of BES 10, where we now have more than 25,000 commercial and test
servers installed to date, up from 19,000 in July 2013. We understand how some
of the activities we are going through create uncertainty, but we remain a
financially strong company with $2.6 billion in cash and no debt. We are
focused on our targeted markets, and are committed to completing our transition
quickly in order to establish a more focused and efficient company."said Thorsten Heins, President
and CEO of BlackBerry.
