--> BBRY - 4.77% Pre-Open - 280k shares traded
BlackBerry beats by $0.07, misses on revs; reports 2 mln BBRY smartphones; continues to target sustainable non-GAAP profitability some time in FY16
Reports Q3 (Nov) adj earnings of $0.01 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of ($0.06); revenues fell 33.5% year/year to $793 mln vs the $919.63 mln consensus.
- The revenue breakdown for the quarter was ~46% for hardware, 46% for services and 8% for software and other revenue.
- During the third quarter, the Company recognized hardware revenue on ~2 mln BlackBerry smartphones vs 2.2 mln ests vs 1.9 mln last year.
- Non-GAAP and GAAP gross margin of 52%.
- Outlook: The Company continues to anticipate maintaining its strong cash position, while increasingly looking for opportunities to prudently invest in growth. The Company continues to anticipate break-even or better cash flow from operations. The Company is expanding its distribution capability, and expects traction from these efforts to manifest some time in fiscal 2016. The company continues to target sustainable non-GAAP profitability some time in fiscal 2016.
- Co also announced that BES12: a cross-platform EMM solution includes support for Android 5.0 Lollipop. Co also announced that Ocean Capital Investments, and its subsidiaries, members of the Irving family of companies, are migrating to BES12: a cross-platform EMM solution by BlackBerry.