Blackberry 2000 Annual Report Download - page 25

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2. Marketable Securities
Marketable securities are comprised as follows:
February 29, February 28,
2000 1999
Preferred shares $ 4,702 $ 9,235
Bonds and debentures 102,489 47,761
Discount notes 110,925 –
$ 218,116 $ 56,996
Carrying values of preferred shares, bonds and debentures and discount notes approximate market value. Investments in
bonds and debentures and discount notes represent holdings in corporate and government notes with approximate average
yields of 5.4% on February 29, 2000 and 4.4% on February 28, 1999. Maturity dates from February 29, 2000 for the
above marketable securities are less than six months. In order to reduce credit risk, the Company has invested only in
securities of investment grade. At February 29, 2000, marketable securities from GE Capital Corp. comprised 34%
(February 28, 1999 – Canada Housing and Mortgage Corporation comprised 65% ) of the total marketable securities.
3. Amounts Receivable
Amounts receivable are comprised as follows:
February 29, February 28,
2000 1999
Trade receivables $ 27,239 $ 11,129
Other receivables 6,035 1,386
$ 33,274 $ 12,515
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 as at February 29, 2000 is
$64 (February 28, 1999 – $65). While the Company sells to a variety of customers, at February 29, 2000, two customers
comprise 46% and 18% of trade receivables (February 28, 1999 – two customers, 81% and 6% ). In addition, sales to
the Company’s two major customers account for 31% and 25% of total sales (February 28, 1999 – one customer, 69% ).
Approximately 7% of sales are to customers outside of the United States.
4. Inventory
Inventory is comprised as follows:
February 29, February 28,
2000 1999
Raw materials $ 32,616 $ 19,078
Work in process 2,733 734
Finished goods 1,503 –
$ 36,852 $ 19,812
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Research In Motion Limited ■Incorporated Under the Laws of Ontario ■United States dollars, in thousands except per share data