LONDON, April 22, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings report on BlackBerry Ltd (NASDAQ: BBRY). On March 27, 2015, the company announced its financial results for Q4 FY15 and full-year FY15 (period ended February 28, 2015). Click on http://get.Investor-Edge.com/pdf/?c=BlackBerry&d=22-Apr-2015&s=BBRY to read our free earnings review on BlackBerry Limited (BlackBerry). During Q4 FY15, the company reported revenue of approximately $660 million. BlackBerry's normalized positive cash flow for Q4 FY15 came in at $76 million compared to normalized cash use of $784 million in Q4 FY14. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=BlackBerry&d=22-Apr-2015&s=BBRY
Earnings Overview
During Q4 FY15, BlackBerry's revenue declined by $316 million from $976 million in Q4 FY14. The reported quarter revenue fell short of Bloomberg analysts' forecasts of $782 million. BlackBerry's revenue breakdown for Q4 FY15 was made up of approximately 42% for hardware, 47% for services, and 10% for software and other revenue. The company recognized hardware revenue on approximately 1.3 million BlackBerry smartphones in Q4 FY15. The company sold approximately 1.6 million BlackBerry smartphones to its end customers in Q4 FY15 at an average selling price of $211. Further, BlackBerry's software revenue grew 20% Y-o-Y to $67 million in Q4 FY15. Free research on BBRY can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=BlackBerry&d=22-Apr-2015&s=BBRY
For Q4 FY15, BlackBerry reported GAAP and non-GAAP gross margin of 48.2% and 48.3%, respectively, with a third consecutive quarter of positive hardware gross margin. BlackBerry's GAAP net income during Q4 FY15 was $28 million, or $0.05 per diluted share, compared to GAAP net loss of $148 million, or $0.28 loss per diluted share, in Q4 FY14. Analysts from Bloomberg were expecting the company to report GAAP net loss of $100 million, or $0.18 loss per diluted share, in Q4 FY15. Furthermore, non-GAAP earnings per share were $0.04 in Q4 FY15 as compared to non-GAAP loss per share of $0.08 in Q4 FY14.
As of February 28, 2015, Blackberry's total cash, cash equivalents, short-term and long-term investments stood at $3.27 billion; an increase of $608 million over Q4 FY14 and matching the highest balance in the company's history.
In FY15, BlackBerry's revenue from continuing operations was $3.34 billion compared to reported revenue of $6.81 billion in FY14. The company's revenue from continuing operations for FY15 missed Bloomberg analysts' forecasts of $3.47 billion. During FY15, BlackBerry's gross margin was $1.60 billion compared to gross loss of $43 million in FY14. Sign up and read the free analyst's notes on BBRY at:
http://get.Investor-Edge.com/pdf/?c=BlackBerry&d=22-Apr-2015&s=BBRY
For FY15, BlackBerry's operating loss narrowed down to $423 million compared to operating loss of $7.16 billion in FY14. The company's GAAP net loss from continuing operations was $304 million, or $0.58 per diluted share, in FY15 compared to reported GAAP net loss of $5.87 billion, or $11.18 loss per diluted share, in FY14. Analysts from Bloomberg were expecting BlackBerry to report GAAP net loss from continuing operations of $465 million, or $0.83 loss per diluted share, for FY15. Moreover, non-GAAP loss from continuing operations for FY15 was $45 million, or $0.09 per share.
Executive Chairman and CEO of Blackberry, John Chen, informed that the second half of the company's turnaround focuses on stabilization of revenue with sustainable profitability and cash generation.
For fiscal FY16, Blackberry continues to anticipate positive free cash flow. The company is expanding its distribution capability, and anticipates seeing results from these efforts during FY16. Blackberry continues to target sustainable non-GAAP profitability. Visit Investor-Edge and access the latest research on BBRY at:
http://get.Investor-Edge.com/pdf/?c=BlackBerry&d=22-Apr-2015&s=BBRY
Stock Performance
On the day of the earnings release, March 27, 2015, Blackberry's stock gained 1.72% to end the session at $9.46. Since then, the stock has moved both ways with gains outperforming losses. On the last close, Tuesday, April 21, 2015, shares of the company finished at $10.03, which was 0.20% above their previous day's closing of $10.01. The stock oscillated between $9.97 and $10.15 during the trading session. A total of 5.72 million shares were traded which was below their three months average volume of 10.32 million shares. Over the previous three trading sessions and over the last one month, the company's shares have gained 1.06% and 5.47%, respectively. Further, the stock has advanced 1.01% in the past three months. Shares in Blackberry closed above their 50-day moving average of $9.89. Moreover, the stock has a Relative Strength Index (RSI) of 59.89.
Sneak Peek to Corporate Insider Trading
In the last one month, Blackberry has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on BBRY is available at:
http://get.Investor-Edge.com/pdf/?c=BlackBerry&d=22-Apr-2015&s=BBRY
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