BlackBerry Limited (BBRY) saw its loss narrow to $47 million, or $0.10 a share for the quarter ended Feb. 28, 2017. In the previous year period, the company reported a loss of $238 million, or $0.45 a share. On an adjusted basis, net profit for the quarter stood at $23 million, or $0.04 a share compared with a net loss of $18 million, or $0.03 a share in the last year period. Revenue during the quarter plunged 38.36 percent to $286 million from $464 million in the previous year period. Gross margin for the quarter expanded 1488 basis points over the previous year period to 60.14 percent. Operating margin for the quarter stood at negative 19.93 percent as compared to a negative 51.94 percent for the previous year period.
Operating loss for the quarter was $57 million, compared with an operating loss of $241 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $42 million compared with $78 million in the prior year period. At the same time, adjusted EBITDA margin contracted 213 basis points in the quarter to 14.69 percent from 16.81 percent in the last year period.
βI am pleased to report that our Q4 results came in at or above expectations in all major metrics,β said John Chen, executive chairman and chief executive officer, BlackBerry. βIn the quarter, we continued to grow our mix of software and services revenue across the company. In turn, this allowed us to expand our operating margin and report positive free cash flow. In addition, our balance sheet continues to strengthen and benefit from reduced capital requirements with our focus on software and licensing.β
Operating cash flow turns negative
BlackBerry Limited has spent $224 million cash to meet operating activities during the year as against cash inflow of $257 million in the last year. Cash flow from investing activities was $724 million from investing activities during the year as against cash outgo of $439 million in the last year.
The company has spent $722 million cash to carry out financing activities during the year as against cash outgo of $78 million in the last year period.
Cash and cash equivalents stood at $734 million as on Feb. 28, 2017, down 23.30 percent or $223 million from $957 million on Feb. 29, 2016.
Debt comes down significantly
BlackBerry Limited has recorded a decline in total debt over the last one year. It stood at $591 million as on Feb. 28, 2017, down 53.72 percent or $686 million from $1,277 million on Feb. 29, 2016. BLACKBERRY has recorded a decline in long-term debt over the last one year. It stood at $591 million as on Feb. 28, 2017, down 53.72 percent or $686 million from $1,277 million on Feb. 29, 2016.
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