BlackBerry posts adjusted profit beat

01 April 2017, 01:37 | Andres Norman

BlackBerry said results for its fourth quarter quarter to end February came in above expectations, with adjusted earnings per share reaching Dollars 0.04 per share, compared to the company's forecast at breakeven, and a loss the year before of 0.03.

Friday reported fourth-quarter earnings that beat analysts' estimate, as its efforts to become a software company finally paid off.

Despite revenue falling 36% versus the same period previous year - mostly due to the company's decision to to exit the mobile hardware business - sales of $297 million USA were still $3 million US above expectations. BlackBerry also forecast it would be profitable on an adjusted (non-GAAP) basis and achieve positive free cash flow (FCF) in fiscal 2018.

The stock was able to keep return on assets at 5.72% in the trailing twelve month while Reuters data showed that industry's average stands at 0.34% and sector's optimum level is -7.83%. High software margins could pull the corporate gross margins further up, and BlackBerry could report another record GAAP gross margin for the quarter.

While the deal is not yet finalized, Chen said one of the company's partners will make the tablet, which will use BlackBerry's software.

BlackBerry, which is now "a global software leader in securing, connecting and mobilizing enterprises", company, reported a net loss of $47 million CAD, or $0.09 per share (USD).

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Adjusted to exclude certain items, BlackBerry gained 4 cents a share. More important, software/service revenues for the year came in at $622 million, up just 25% for the period.

That resulted in a full-year loss of US$1.2 billion, including US$600 million in charges for restructuring.

Although BlackBerry has all but gotten out of the smartphone-making business, that division was losing money. The company's Toronto-listed stock was up 15.4 percent at C$10.70.

Let's also take a brief look at the stock price in relation to some highs/lows and moving averages.

For what it's worth (which isn't much), the year-over-year revenue comparison was $464 million.

Chief Executive Officer John Chen would need a late bump in sales to hit the 30 percent growth in software revenue BlackBerry targeted for its recently completed fiscal year. (NASDAQ:AAPL) on the consumer and hardware fronts, BlackBerry has been expanding its enterprise software and security offerings to garner the crowd in that niche.

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