Blackberry Quarterly Results: Many people have been waiting to take a closer look at the fourth quarter and year end results from Research In Motion Ltd (NASDAQ:BBRY) for fiscal 2013. Well, the wait is finally over. The company reported this information today, and it is available in a condensed form via an official press release.
Before we get into the fiscal 2013 results, let’s take a closer look at how things panned out for the company in quarter four.
According to the press release, the company generated $2.7 billion in revenue. While this may sound like a lot of money, it is actually a 36 percent decrease when compared to the same quarter of fiscal 2012.
Here is what the release had to say about the breakdown of the revenue:
“The revenue breakdown for the quarter was approximately 61% for hardware, 36% for service and 3% for software and other revenue.”
Another important detail of note is that BlackBerry shipped roughly six million smartphones and 370,000 PlayBook tablets.
Now, it is time to take a look at fiscal 2013 results for Research In Motion Ltd (NASDAQ:BBRY).
Here is what the release had to say:
“Revenue from continuing operations for the fiscal year ended March 2, 2013 was $11.1 billion, down 40% from $18.4 billion in fiscal 2012. The Company’s GAAP net loss from continuing operations for fiscal 2013 was $628 million, or $1.20 per share diluted, compared with GAAP net income from continuing operations of $1.2 billion, or $2.23 per share diluted in fiscal 2012. Adjusted net loss from continuing operations for fiscal 2013 was $317 million, or $0.60 per share diluted. Adjusted net loss from continuing operations and adjusted diluted loss per share for fiscal 2013 exclude the adjustments described above as well as the impact of a pre-tax goodwill impairment charge of $335 million ($326 million after tax), an income tax benefit of $166 million, and charges of $220 million ($151 million after tax) related to the Company’s CORE program that commenced in March 2012. These charges and their related impacts on GAAP net income and diluted earnings per share are summarized in the tables below.”
As you can see, just the same as the fourth quarter year over year, the company struggled in fiscal 2013, down 40% from fiscal 2012.
At this point, you may be wondering what the company has in store to get things back on track. The “Outlook” section of the release talks about the future, including the fact that the company plans to increase “its marketing investment in the first quarter of fiscal 2014 in support of the global launch of BlackBerry 10.”
Good news for investors is that Research In Motion Ltd (NASDAQ:BBRY) “believes it will approach breakeven financial results in the first quarter based on its lower cost base, more efficient supply chain, and improved hardware margins.”
What are your thoughts on these numbers? Do you believe that the company will turn things around in fiscal 2014 or will it continue to struggle? Share your thoughts in the comment section below.
Check back here for more updates on Blackberry Quarterly Results.
DISCLOSURE: I have no positions in any stock mentioned.
For more news stories, visit these pages: