Blackberry 2003 Annual Report Download - page 49

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46
Research฀In฀Motion฀Limited฀฀|฀฀Incorporated฀Under฀the฀Laws฀of฀Ontario฀(United฀States฀dollars,฀in฀thousands฀except฀per฀share฀data฀or฀as฀otherwise฀indicated)
47
For฀the฀years฀ended฀March฀1,฀2003,฀March฀2,฀2002฀and฀February฀28,฀2001
in฀prevailing฀interest฀rates.฀The฀Company฀does฀not฀currently฀use฀interest฀rate฀derivative฀nancial฀
instruments฀in฀its฀investment฀portfolio.
The฀Company,฀in฀the฀normal฀course฀of฀business,฀monitors฀the฀nancial฀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฀specic฀credit฀risk฀of฀its฀customers,฀historical฀trends฀and฀economic฀
circumstances.฀The฀allowance฀as฀at฀March฀1,฀2003฀is฀$2,331฀(2002฀–฀$2,218).฀
While฀the฀Company฀sells฀to฀a฀variety฀of฀customers,฀three฀customers฀comprised฀17%,฀16฀%,฀and฀14%฀
of฀trade฀receivables฀as฀at฀March฀1,฀2003฀(2002฀–฀two฀customers฀comprised฀16%฀and฀15%).฀Additionally,฀
one฀customer฀comprised฀12%฀of฀the฀Company’s฀sales฀(2002฀–฀two฀customers฀comprised฀17%฀and฀
11%,฀2001฀–฀one฀customer฀comprised฀18%).฀
For฀certain฀of฀the฀Company’s฀nancial฀instruments,฀including฀trade฀receivables,฀other฀receivables,฀
accounts฀payable฀and฀accrued฀liabilities,฀the฀carrying฀amounts฀approximate฀their฀respective฀fair฀values฀
due฀to฀their฀short฀maturities.฀Cash฀and฀cash฀equivalents,฀marketable฀securities฀and฀long-term฀debt฀are฀
carried฀at฀cost,฀which฀approximates฀their฀respective฀fair฀values.
19.฀Segment฀Disclosures
The฀Company฀is฀organized฀and฀managed฀as฀a฀single฀reportable฀business฀segment.฀The฀Company’s฀
operations฀are฀substantially฀all฀related฀to฀the฀research,฀design,฀manufacture฀and฀sales฀of฀wireless฀
communications฀products.฀
Selected฀nancial฀information฀is฀as฀follows:฀
฀ ฀฀ ฀ March฀1,฀2003฀฀ ฀March฀2,฀2002฀ February฀28,฀2001฀
Sales
฀ Canada฀ ฀$฀ 21,788฀฀ ฀$฀ 21,381฀฀ ฀$฀ 16,721฀
฀ United฀States฀ ฀฀255,466฀฀ ฀฀ 239,702฀฀ ฀ ฀204,606฀
฀ Foreign฀ ฀ ฀29,478฀฀ ฀฀ 32,970฀฀ ฀฀ –
฀ ฀฀ ฀ $฀ 306,732฀฀ ฀$฀ 294,053฀฀ ฀$฀ 221,327฀
Sales
฀ Canada฀ ฀ 7.1%฀ ฀ 7.3%฀ ฀ 7.6%
฀ United฀States฀ ฀ 83.3%฀ ฀ 81.5%฀ ฀ 92.4%
฀ Foreign฀ ฀ 9.6%฀ ฀ 11.2%฀ ฀ –
฀ ฀ ฀ ฀ 100.0%฀ ฀ 100.0%฀ ฀ 100.0%
฀ ฀฀ ฀ March฀1,฀2003฀฀ ฀March฀2,฀2002฀฀ ฀February฀28,฀2001฀
Revenue฀mix฀ ฀ ฀
฀ Handhelds฀ ฀$฀ 122,711฀฀ ฀$฀ 160,198฀฀ ฀$฀ 156,736฀
฀ Service฀ ฀ 129,331฀฀ ฀ ฀88,880฀฀ ฀ ฀29,067฀
฀ OEM,฀software,฀non-recurring฀engineering฀
฀ ฀ (“NRE”)฀and฀other฀ ฀ ฀54,690฀฀ ฀ ฀44,975฀฀ ฀฀ 35,524฀
฀ ฀฀ ฀ $฀ 306,732฀฀ ฀$฀ 294,053฀฀ ฀$฀ 221,327฀
Capital,฀intangible฀assets฀and฀goodwill฀ ฀ ฀
฀ Canada฀ ฀$฀ 207,221฀฀ ฀$฀ 175,406฀฀ ฀
฀ United฀States฀ ฀฀ 30,759฀฀ ฀ ฀651฀฀ ฀
฀ Foreign฀ ฀฀ 6,662฀฀ ฀฀ 6,184฀฀ ฀฀ ฀
฀ ฀ ฀ ฀$฀ 244,642฀฀ ฀$฀ 182,241฀฀ ฀฀
Total฀assets฀ ฀ ฀
฀ Canada฀ $฀ 258,833฀฀ ฀$฀ 290,133฀฀ ฀฀
฀ United฀States฀ ฀฀ 585,375฀฀ ฀ ฀631,126฀฀ ฀฀ ฀
฀ Foreign฀ ฀฀ 15,401฀฀ ฀฀ 26,898฀฀ ฀ ฀฀
฀ ฀฀ ฀ $฀ 859,609฀฀ ฀$฀ 948,157฀฀ ฀฀