RIM Announces Q4 Fiscal 2012 Financials

April 1st, 2012

These two days we learned a new about RIM. Now we would like to share it with you.

Research In Motion Limited (RIM) a world leader in the mobile communications market, today reported fourth quarter results for the three months and fiscal year ended March 3, 2012 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

Highlights:
$2.1 billion in cash, cash equivalents, short-term and long-term investments at the end of the quarter, which increased by approximately $610 million in the quarter
Cash flow from operations of approximately $1.1 billion, up from approximately $900 million in Q3
Revenue of $4.2 billion, down 19% from the third quarter
GAAP net loss in Q4 of $125 million or $0.24 per share diluted; adjusted net income of $418 million or $0.80 per share diluted
BlackBerry smartphone shipments of 11.1 million in Q4, down 21% from Q3
RIM to discontinue providing specific quantitative guidance
RIM provides update on organizational changes

Q4 Results:

Revenue for the fourth quarter of fiscal 2012 was $4.2 billion, down 19% from $5.2 billion in the previous quarter and down 25% from $5.6 billion in the same quarter of fiscal 2011. The revenue breakdown for the quarter was approximately 68% for hardware, 27% for service and 5% for software and other revenue. During the quarter, RIM shipped approximately 11.1 million BlackBerry smartphones and over 500,000 BlackBerry PlayBook tablets.

“I have assessed many aspects of RIM’s business during my first 10 weeks as CEO. I have confirmed that the Company has substantial strengths that can be further leveraged to improve our financial performance, including RIM’s global network infrastructure, a strong enterprise offering and a large and growing base of more than 77 million subscribers. I’m very excited about the prospects for the BlackBerry 10 platform, which is on track for the latter part of calendar 2012. Notwithstanding these strengths and opportunities, the business challenges we face over the next several quarters are significant and I am taking the necessary steps to address them,” said Thorsten Heins, President & CEO of Research In Motion. “In addition to delivering the BlackBerry 10 platform and refocusing resources on RIM’s key opportunities, such as BlackBerry Mobile Fusion and new integrated service offerings, we will also drive greater operational performance through a variety of initiatives including increased management accountability and process discipline. In parallel, we are undertaking a comprehensive review of strategic opportunities including partnerships and joint ventures, licensing, and other ways to leverage RIM’s assets and maximize value for our stakeholders.”

The Company’s GAAP net loss for the fourth quarter of fiscal 2012 was $125 million, or $0.24 per share diluted, compared with GAAP net income of $265 million, or $0.51 per share diluted, in the prior quarter and GAAP net income of $934 million, or $1.78 per share diluted, in the same quarter of fiscal 2011. Adjusted net income for the fourth quarter was $418 million, or $0.80 per share diluted. Adjusted net income and adjusted diluted earnings per share for the fourth quarter exclude the impact of pre-tax charges of $355 million which are predominantly non-cash ($346 million after tax) for the impairment of goodwill and $267 million ($197 million after-tax) for an inventory provision taken primarily on certain BlackBerry7 products. These charges and their related impacts on GAAP net income and diluted earnings per share are summarized in the tables below.

Reconciliation of GAAP gross margin, gross margin percentage, net income and diluted EPS to adjusted gross margin, gross margin percentage, net income and diluted EPS:

(United States dollars, in millions except per share data)
For the quarter ended March 3, 2012
Gross Margin(1) (before taxes) Gross Margin %(1)(before taxes) Net Income or (Loss) Diluted EPS
As reported $ 1,401 33.4 % $ (125 ) (0.24 )

Adjustments:
Impairment of Goodwill(2) – – 346 0.66
Inventory Provision(3) 267 6.4 % 197 0.38

Adjusted $ 1,668 39.8 % $ 418 $ 0.80
Note: Adjusted gross margin, adjusted net income and adjusted diluted 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 adjusted gross margin, adjusted gross margin percentage, adjusted net income and adjusted diluted earnings per share enables the Company and its shareholders to better assess RIM’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 RIM’s GAAP results.
(1) During the fourth quarter of fiscal 2012, the Company reported GAAP gross margin of $1.4 billion or 33.4% of revenue. Excluding the impact of charges primarily related to inventory valuation of certain BlackBerry 7 products, the adjusted gross margin was $1.7 billion, or 39.8% of revenue.
(2) Subsequent to the fourth quarter of fiscal 2012, the Company performed a goodwill impairment test and based on the results of that test, the Company recorded a non-cash pre-tax goodwill impairment charge of $355 million, $346 million after tax.
(3) During the fourth quarter of fiscal 2012, the Company recorded a pre-tax provision of approximately $267 million, $197 million after tax, which was mostly non-cash, primarily related to its inventory valuation of certain BlackBerry 7 products.

The total of cash, cash equivalents, short-term and long-term investments was $2.1 billion as of March 3, 2012, compared to $1.5 billion at the end of the previous quarter, an increase of approximately $610 million from the prior quarter. Cash flow from operations in Q4 was approximately $1.1 billion, up from $900 million in Q3. Uses of cash included intangible asset additions of approximately $260 million and capital expenditures of approximately $190 million.

Fiscal 2012 Results

Revenue for the fiscal year ended March 3, 2012 was $18.4 billion, down 7% from $19.9 billion in fiscal 2011. The Company’s GAAP net income for fiscal 2012 was $1.2 billion, or $2.22 per share diluted, compared with GAAP net income of $3.4 billion, or $6.34 per share diluted in fiscal 2011. Adjusted net income for fiscal 2012 was $2.2 billion, or $4.20 per share diluted. Adjusted net income and adjusted diluted earnings per share for fiscal 2012 exclude the adjustments described above as well as the impact of pre-tax charges of $54 million ($40 million after tax) to revenue related to the service interruption experienced in the third quarter, $485 million ($356 million after tax) for the PlayBook inventory provision taken in the third quarter and $125 million ($96 million after tax) for the Company’s cost optimization program that was implemented in the second quarter of fiscal 2012. These charges and their related impacts on GAAP net income and diluted earnings per share are summarized in the tables below.

Reconciliation of GAAP revenue, gross margin, gross margin percentage, net income and diluted EPS to adjusted revenue, gross margin, gross margin percentage, net income, and diluted EPS:

(United States dollars, in millions except per share data)
For the year ended March 3, 2012
Revenue (before taxes) Gross Margin(1) (before taxes) Gross Margin%(1) (before taxes) Net Income Diluted EPS
As reported $ 18,435 $ 6,579 35.7 % $ 1,164 $ 2.22

Adjustments:
PlayBook Inventory Provision(2) – 485 2.6 % 356 0.68
Cost Optimization Program(3) – 14 – 96 0.18
Q3 Service Interruption(4) 54 54 0.3 % 40 0.08
Impairment of Goodwill(5) – – – 346 0.66
Inventory Provision(6) 19 267 1.4 % 197 0.38

Adjusted $ 18,508 $ 7,399 40.0 % $ 2,199 $ 4.20
Note: Adjusted revenue, adjusted gross margin, adjusted gross margin percentage, adjusted net income and adjusted diluted 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 adjusted revenue, adjusted gross margin, adjusted gross margin percentage, adjusted net income and adjusted diluted earnings per share enables the Company and its shareholders to better assess RIM’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 RIM’s GAAP results.
(1) During fiscal 2012, the Company reported GAAP gross margin of $6.6 billion, or 35.7% of revenue. Excluding the impact of charges related to the PlayBook Inventory Provision, the Cost Optimization Program, the Q3 Service Interruption and the Inventory Provision, the adjusted gross margin was $7.4 billion, or 40.0% of revenue.
(2) During fiscal 2012, the Company recorded a pre-tax provision of approximately $485 million, $356 million after tax, related to its inventory valuation of BlackBerry PlayBook tablets. The charge was predominantly non-cash.
(3) Cost of sales, research and development, and selling, marketing and administration expenses in fiscal 2012 included approximately $11 million, $18 million, and $67 million, respectively, in after-tax charges related to the cost optimization program to streamline operations across the Company.
(4) During fiscal 2012, the Company experienced a service interruption which resulted in the loss of service revenue and the payment of service credits totally approximately $54 million, approximately $40 million after tax, related to the interruption in the availability of the Company’s network.
(5) Subsequent to fiscal 2012, the Company performed a goodwill impairment test and based on the results of that test, the Company recorded a non-cash pre-tax goodwill impairment charge of approximately $355 million, approximately $346 after tax.
(6) In the fourth quarter of fiscal 2012, the Company recorded a pre-tax provision of approximately $267 million, $197 million after tax, which was mostly non-cash, primarily related to its inventory valuation of certain BlackBerry 7 products.

Change to Guidance Practices and Outlook:

The company expects continued pressure on revenue and earnings throughout fiscal 2013. Due to a desire to focus on long term value creation and the current business environment, RIM will no longer provide specific quantitative guidance. Some of the factors contributing to this include, ongoing weakness in the Company’s U.S. smartphone business, an increased focus on selling BlackBerry 7 smartphones to grow the subscriber base in advance of the BlackBerry 10 launch, increasing competitive pressure in the Company’s international markets and the introduction of certain new lower tier service pricing initiatives and a higher mix of sales coming from entry level products.

Organizational and Board of Directors Update:

Jim Balsillie, former Co-CEO of the Company, has resigned as a Director on the Company’s Board.

“As I complete my retirement from RIM, I’m grateful for this remarkable experience and for the opportunity to have worked with outstanding professionals who helped turn a Canadian idea into a global success,” said Jim Balsillie.

“On behalf of the Board and everyone at RIM, I would like to thank Jim for his 20 years of service to RIM,” said Barb Stymiest, Chair of RIM’s Board of Directors. “His energy, drive and enthusiasm helped build one of the most successful technology companies of our time.”

In addition, David Yach will be retiring from his role as CTO, Software after 13 years with the Company and after 4 years with the company and following an open dialogue on the future of global operations, Jim Rowan, COO, Global Operations, has decided to pursue other interests. The Company is currently undertaking a search to hire a single COO with responsibilities to run the Company’s operations.

“RIM would like to thank David Yach and Jim Rowan for their years of service and many contributions to RIM,” said Thorsten Heins, President and CEO. “We wish them well in their future pursuits.”

We think it will let more BlackBerry Users learn RIM’s Plan in 2012.

NetworkAcc & Brainwave Tuner 50% Discount Promotion for N4BB Readers

March 19th, 2012

This week, we have made updates for two of our applications, one is Brainwave Tuner and the other is NetworkAcc. To celebrate the updates, we’re giving a 50% discount promotion for N4BB readers!

NetworkAcc

       NetworkAcc is a powerful mobile network accelerator specially designed for smartphone and BlackBerries. Mobile accelerator accelerates all your mobile-network based activities, which include browsing, downloading, uploading, streaming, online gaming, sending and receiving email, etc. Optimization technology is applied to fine-tune
several key network parameters to prevent data fragmentation and to improve data throughput. All the above techniques translate into a speedy internet/network connection: faster browsing, faster downloading, faster email, and faster online gaming.

Features in NetworkAcc v2.9:

  • Update information on About Screen;
  • Add Company Logo on main screen;
  • Other minor optimizations, like reducing resource usage, saving battery, “View Logo” Screen, etc…

You can pickup NetworkAcc at 50% in the N4BB App Store using coupon code: N4BB20120319

Brainwave Tuner

Brainwave Tuner is a brain wave stimulation application that generates tones with binaural beats, which can change your brain frequency towards the desired state, be it relaxation or enhanced attention. Brainwave Tuner support devices with OS5.0+. 20 Preset Updated Sound Patterns are included in Brainwave Tuner.

Features in Brainwave Tuner v3.0:

  • Add an “Exit” function of Brainwave Tuner when the set timer stops in order to save battery;
  • Embedded phone’s speaker to adjust volume and add a “Mute” function for sound button before volume bar;
  • Embedded a new play indicator on your phone’s homescreen to tell you that Brainwave Tuner is running in background now;
  • Add a new full screen advertisement to help you know our another great Ultimate Brainwave Entrainment App on BlackBerry App World;
  • Other minor optimizations, like loading speed, short descriptions and ect.

You can pickup Brainwave Tuner at 50% in the N4BB App Store using coupon code: N4BB20120320

Now come on and enjoy it.

BlackBerry Messenger Themes?

January 11th, 2012

With BBM being updated to v6.1.0.49 it brings a long some new features such as supporting animated avatars, and longer status updates it brings to mind something else I would like to see come to BBM.  Themes are great as is, and are very popular among BlackBerry users.  We’ve seen in the recent BlackBerry Porsche P’9981 theme that the media player can be themed.  How about other apps like BBM?

I would love to see, after playing with a friends Android phone, are themes on BBM. Not sure how many of our BlackBerry fanatics are familiar with apps like Handcent that is available on Android phones that allow you to customize your text messages in every way. These changes include:

  • Changing Themes
  • Changing Backgrounds
  • Customizing Fonts
  • Message Preview

BBM is already a favorite application amongst most if not all BlackBerry users, so it would be great to see something cool like this to BBM to really put your own flavor to BBM. We are seeing a lot of BBM Connected applications and I feel that this is something that will really add to the BlackBerry Messenger Platform. So tell us what you think, would you like to see BBM customizable with themes?

If yes, just comment on this article and we can make a further talk.

Saying Goodbye to 2011

December 31st, 2011

How time flies!

Today is the last day of the year of 2011. Now i would like to say goodbye for this year. And Express our great thanks to our customers and our helpful partners.

Btw, this year has been a true rollercoaster for BlackBerry users and addicts. RIM first tried placating users upgrade demands with slightly improved variants of existing devices with more memory. They then released the BlackBerry PlayBook which showed tons of promise but struggled to improve the OS. Then they finally treated us to a whole lineup of BlackBerry 7 devices with processors that doubled the speed of the previous crop.

Now at the end of 2011 it seems like this transition period will be stretching into 2012 but will hopefully start showing its promise in February. I am excited to see what RIM has in store for us and I truly hope they hit the ground kicking ass and taking names with a successful PlayBook 2.0 launch. There are so many different rumors I am hearing from inside RIM and the excitement seems to be brewing. Hopefully RIM shows us what a BlackBerry BB10 “Superphone” looks like soon!

I wanted to thank all of you for making 2011 an amazing year with record breaking readership on eMobistudio. We hope you enjoyed the ride with us. Here is to an amazing 2012!

Happy New Year!

Author: Jessie Categories: Others Tags: ,

Official OS 7.0.0.590 For The BlackBerry Bold 9900

December 29th, 2011

Software For BlackBerry® Bold™ 9900 smartphone
BlackBerry Handheld Software v7.0.0.2416 (Multilanguage)

Package Version: 7.0.0.2416
Consisting of:

  • Applications: 7.0.0.590
  • Software Platform: 5.0.0.739
  • File name: 9900M_PBr7.0.0_rel2416_PL5.0.0.739_A7.0.0.590_Partner_Communications.exe
  • File size: 220.53MB

Note: The Software Platform and Applications version numbers can be found under Options-About screen on the handheld.

Author: Jessie Categories: News & Updates Tags: ,

Official OS 6.0.0.723 For The BlackBerry Bold 9780

December 27th, 2011

Software For BlackBerry® Bold™ 9780 smartphone
BlackBerry Handheld Software v6.0.0.3106 (Multilanguage)

Package Version: 6.0.0.3106
Consisting of:

  • Applications: 6.0.0.723
  • Software Platform: 6.6.0.248
  • File name: 9780M_PBr6.0.0_rel3106_PL6.6.0.248_A6.0.0.723_Partner_Communications.exe
  • File size: 170.93MB

Note: The Software Platform and Applications version numbers can be found under Options-About screen on the handheld.

BlackBerry New Hidden Features

December 22nd, 2011

 

appworld highres 300x1262 BlackBerry App World has some hidden features built in Such as Screenshots and Emailing of Change Logs files

So if you have downloaded BlackBerry App World 3.1.0.56 you probably have noticed that it supports usage over WiFi, gifting applications and much more. However there are some hidden features that might be useful to some users.

  • ALT + SSS  – If you open up BlackBerry App World and type those keys in, you’re instantly producing not only a log for BlackBerry App World but a screenshot as well. As show above, you can then email that log fil, screen cap and even fill in some details about what is happening off to RIM. Once closed, all screenshots and log files disappear.
  • ALT + LOGLOG – This key combo generates a new log file. In that log file will be some information about your device such as your locale, App World version, date & time and what wireless carrier and tower you are connected to as well as, your device model and PIN #.

Now again these features aren’t going to be used by everyday users.

News About AT&T

December 21st, 2011

If you’re a T-Mobile or AT&T customer that was or wasn’t looking forward to the merger between the two companies well you don’t have to wait anymore. AT&T is throwing in the towel and giving up on the merger.   Apparently the FCC and the DOJ blocking of the merger helped fight off AT&T. Here is AT&T’s statement:

“The actions by the Federal Communications Commission and the Department of Justice to block this transaction do not change the realities of the U.S. wireless industry. It is one of the most fiercely competitive industries in the world, with a mounting need for more spectrum that has not diminished and must be addressed immediately. The AT&T and T-Mobile USA combination would have offered an interim solution to this spectrum shortage. In the absence of such steps, customers will be harmed and needed investment will be stifled.”

Well looks like the wireless industry will stay the same for now.  I wonder if Sprint will try to purchase T-Mobile? What do you think will happen next, let us know in the comment section!Thanks for yoru reading.

Author: Jessie Categories: News & Updates Tags: ,

BlackBerry Bold 9790 coming Soon to Orange

December 19th, 2011

Today we would like to share a nice bit of weekend news for any Orange customers or anyone who’s looking to a new BlackBerry Smartphone. Orange UK have posted the BlackBerry Bold 9790 on their coming soon page. The latest Bold device, seen as the little brother of the Bold 9900 and more of an upgrade to the Bold 9700/9780 line, sports a 2.45in touchscreen, slimmer build than the Bold 97xx series, as well as a 5MP autofocus camera, which could entice more users than the Bold 9900.

There is no date set for the release of the Bold 9790. It would make for a great Christmas gift if it was made available just in time for Christmas. Look out for the BlackBerry Bold 9790 review coming soon. Waiting it….

Author: Jessie Categories: News & Updates Tags:

RIM partners with Sydney based Tapit to promote NFC

December 14th, 2011

Today we learned that RIM has partnered with NFC marketing company Tapit in Australia to promote the NFC capabilities of the new BlackBerry 7 devices. The Sydney based Tapit is known for delivering content via NFC tags, be it movie trailers, tickets, coupons or other deliverable content. During the campaign, users will be able to tap tags on NFC-enabled posters as well as tokens that will be given out by BlackBerry street team members.

"We believe NFC will be increasingly used in Australia in a variety of ways including making mobile payments with your smart phone, transferring information or even using your smart phone as a digital key," said Adele Beachley, managing director for RIM Australia. "Partnering with Tapit will allow us to showcase the power of NFC in marketing." 

NFC is a pretty big selling point on BlackBerry smartphones, so it’s good to see RIM being proactive and making use of the technoiogy. Hopefully the NFC buzz will spread and we’ll see much more from RIM and other ways we can use NFC down the road. If you have any news about NFC, please leave your ideas about it.