Blackberry 2003 Annual Report Download - page 26

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24
Research฀In฀Motion฀Limited฀฀|฀฀Incorporated฀Under฀the฀Laws฀of฀Ontario฀(United฀States฀dollars,฀in฀thousands฀except฀per฀share฀data฀or฀as฀otherwise฀indicated)
25
For฀the฀years฀ended฀March฀1,฀2003,฀March฀2,฀2002฀and฀February฀28,฀2001
Impact฀of฀Accounting฀Pronouncements฀Not฀Yet฀Implemented฀
Hedging฀Relationships
In฀December฀2002,฀the฀Canadian฀Institute฀of฀Chartered฀Accountants฀(“CICA”)฀approved฀amendments฀
to฀Accounting฀Guideline,฀AcG-13,฀Hedging฀Relationships฀(“AcG-13”).฀The฀proposed฀amendments฀clarify฀
certain฀of฀the฀requirements฀in฀AcG-13฀and฀provide฀additional฀application฀guidance.฀AcG-13฀applies฀
to฀hedging฀relationships฀in฀effect฀in฀scal฀years฀beginning฀on฀or฀after฀July฀1,฀2003.฀The฀Company฀is฀
currently฀reviewing฀the฀impact฀of฀adoption฀on฀the฀consolidated฀nancial฀statements.
Disposal฀of฀Long-lived฀Assets฀and฀Discontinued฀Operations
In฀December฀2002,฀the฀CICA฀amended฀Handbook฀Section฀3475,฀Disposal฀of฀Long-lived฀Assets฀and฀
Discontinued฀Operations฀(“Section฀3475”).฀Section฀3475฀provides฀guidance฀on฀differentiating฀between฀
assets฀held฀for฀sale฀and฀held฀for฀disposal฀other฀than฀by฀sale฀and฀on฀the฀presentation฀of฀discontinued฀
operations.฀Section฀3475฀applies฀to฀disposal฀activities฀initiated฀on฀or฀after฀May฀1,฀2003.฀The฀Company฀
is฀currently฀reviewing฀the฀impact฀of฀adoption฀on฀the฀consolidated฀nancial฀statements.
Disclosure฀of฀Guarantees
In฀February฀2003,฀the฀CICA฀issued฀Accounting฀Guideline,฀AcG-14,฀Disclosure฀of฀Guarantees฀(“AcG-14).฀
AcG-14฀provides฀guidance฀regarding฀the฀identication฀of฀guarantees฀and฀requires฀the฀guarantor฀to฀
disclose฀the฀signicant฀details฀of฀guarantees฀that฀have฀been฀given฀regardless฀of฀whether฀a฀payment฀is฀
required฀under฀the฀guarantee.฀Unlike฀the฀U.S.฀standard,฀AcG-14฀does฀not฀require฀fair฀value฀recognition฀
of฀guarantees฀on฀the฀balance฀sheet฀nor฀does฀it฀extend฀to฀product฀warranties.฀AcG-14฀is฀to฀be฀applied฀to฀
interim฀and฀annual฀nancial฀reporting฀beginning฀on฀or฀after฀January฀1,฀2003.฀The฀Company฀is฀currently฀
reviewing฀the฀impact฀of฀adoption฀on฀the฀consolidated฀nancial฀statements.
Outlook
RIM’s฀strategy฀is฀to฀leverage฀the฀technology฀and฀infrastructure฀investments฀made฀over฀the฀past฀
several฀years฀to฀drive฀BlackBerry฀subscriber฀growth฀and฀nancial฀performance.฀RIM฀plans฀to฀extend฀its฀
technical฀and฀market฀lead฀by฀continuing฀to฀invest฀in฀core฀research฀and฀development฀to฀enhance฀the฀
BlackBerry฀product฀portfolio,฀by฀fostering฀new฀international฀business฀relationships,฀by฀licensing฀the฀
BlackBerry฀platform฀to฀key฀handset฀vendors฀and฀by฀strengthening฀our฀infrastructure฀to฀support฀
global฀subscriber฀growth.
RIM฀will฀continue฀to฀pursue฀growth฀opportunities฀with฀global฀carriers฀to฀further฀expand฀BlackBerry’s฀
global฀footprint฀and฀to฀extend฀our฀enterprise฀market฀leadership฀into฀the฀prosumer฀market.฀RIM฀plans฀
to฀increase฀the฀addressable฀market฀for฀BlackBerry฀through฀the฀strategic฀licensing฀of฀both฀the฀BlackBerry฀
platform฀and฀RIM’s฀hardware฀technology.
We฀anticipate฀signicant฀revenue฀growth฀in฀scal฀2004฀and฀are฀targeting฀substantial฀increases฀in฀
the฀BlackBerry฀subscriber฀base.฀RIM฀intends฀to฀realize฀this฀growth฀while฀continuing฀to฀manage฀our฀
nancial฀resources฀prudently฀and฀while฀fostering฀a฀culture฀of฀innovation฀and฀achievement฀among฀
our฀employees.