Blackberry 2001 Annual Report Download - page 33

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>For the years ended February 28, 2001, February 29, 2000 and February 28, 1999
(b) Capital assets –The Company received $2,585 in government assistance towards the cost of capital assets
used in research and development activities (2000 –$2,177).
The Company was in compliance with all terms and conditions in respect to its two project development
agreements with TPC as at February 28, 2001 and February 29, 2000.
11. Write-Down of Long-Term Investments
During the year, the Company undertook a comprehensive review of the companies in which it had made long-term
investments earlier in the fiscal year. Based upon that review, the Company determined that impairment in the
carrying values of certain of its long-term investments did occur; the Company further determined that for certain
of these investments the decline in value suffered was other than temporary in nature. Consequently the Company
recorded a write-down in values totalling $14,750.
12. Earnings Per Share
The treasury stock method assumes that proceeds received upon the exercise of all warrants and options outstanding
in the period are used to repurchase the Company’s shares at the average share price during the period.
The following table sets forth the computation of basic and diluted earnings per share.
For the year ended
February 28, 2001 February 29, 2000 February 28, 1999
Numerator for basic and diluted earnings per share
available to common stockholders $ (6,211) $ 10,498 $ 6,409
Denominator for basic earnings per share –
weighted average shares outstanding (000’s) 73,555 66,613 64,148
Effect of dilutive securities:
Warrants –180 64
Employee stock options –6,203 2,643
Dilutive potential common shares: –6,383 2,707
Denominator for diluted earnings per share –adjusted
weighted average shares and assumed conversions 73,555 72,996 66,855
Earnings (loss) per share
Basic $ (0.08) $ 0.16 $ 0.10
Diluted $ (0.08) $ 0.14 $ 0.10
13. Statement of Cash Flows Supplemental Information
The following summarizes interest and income taxes paid:
Year ended
February 28, 2001 February 29, 2000 February 28, 1999
Interest paid during the year $ 456 $ – $ –
Income taxes paid during the year 897 756 389
14. Financial Instruments
The majority of the Company’s revenues and purchases of raw materials are realized in U.S. dollars while other
operating expenses, consisting generally of salaries and overhead, are incurred primarily in Canadian dollars.
As a result, the Company is exposed to a risk relating to foreign exchange fluctuations. At February 28, 2001,
approximately $16,426 or 3% of cash and cash equivalents, 11% of trade receivables and 27% of accounts
payable and accrued liabilities are denominated in Canadian dollars (2000–157%, 18%, and 25%, respectively). >
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