Blackberry 1999 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 1999 Blackberry annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 36

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36

3. AMOUNTS RECEIVABLE
Amounts receivable are comprised as follows (in thousands):
1999 1998
Trade receivables $ 16,569 $ 11,238
Other receivables 2,064 1,917
Refundable investment tax credits –1,800
$ 18,633 $ 14,955
The Company in the normal course of business, monitors the financial condition of its customers and reviews
the credit history of each new customer. The Company establishes an allowance for doubtful accounts that
corresponds to the specific credit risk of its customers, historical trends and economic circumstances. The
allowance for 1999 is $98,000 (1998 - $10,000). The Company has long-term contracts or supply agreements with
most of its major customers. While the Company sells to a variety of customers, at February 28, 1999 2 customers
comprise 87% of trade receivables (1998 - 6 customers, 87%). In addition, sales to the Company’s major customer
accounts for 69% of total sales. Over 90% of sales are to customers outside of Canada.
4. INVENTORY
Inventory is comprised as follows (in thousands):
1999 1998
Raw materials $ 28,404 $ 12,586
Work in process 1,092 2,812
$ 29,496 $ 15,398
5. PREPAID EXPENSES
Prepaid expenses are comprised as follows (in thousands):
1999 1998
Airtime $ 5,444 $ –
Other 429 242
$ 5,873 $ 242
The airtime was acquired to be used with the Company’s BlackBerry product. This airtime will be charged to
earnings as it is used.
26