Blackberry 2004 Annual Report Download - page 11

management’s discussion and analysis
of financial condition and results of operations
9
Research In Motion Limited • Incorporated Under the Laws of Ontario (In thousands of United States dollars, except per share data, and except as otherwise indicated)
For the years ended February 28, 2004, March 1, 2003 and March 2, 2002
The following Management’s Discussion and Analysis
of Financial Condition and Results of Operations
(“MD&A”) should be read together with the
audited consolidated financial statements and the
accompanying notes (the “Consolidated Financial
Statements”) of Research In Motion Limited (“RIM”
or the “Company”) for the fiscal year ended February
28, 2004. The Consolidated Financial Statements
have been prepared in accordance with United
States generally accepted accounting principles
(“U.S. GAAP”). To the extent applicable to the
Consolidated Financial Statements, these principles
conform in all material respects with Canadian
generally accepted accounting principles (“Canadian
GAAP”), except as described in the “Commentary on
Material Differences in the Company’s Fiscal 2004
Financial Statements under U.S. GAAP compared to
Canadian GAAP”.
The comparative information in this MD&A conforms
with U.S. GAAP. For fiscal years prior to 2004,
the Company’s consolidated financial statements
and the accompanying notes have been prepared
separately in accordance with U.S. GAAP reconciled
to Canadian GAAP and also in accordance with
Canadian GAAP reconciled to U.S. GAAP.
All financial information herein is presented in
United States dollars, except for certain financial
information contained in tables which is expressed
in thousands of United States dollars, and as
otherwise indicated.
Special Note Regarding Forward-Looking Statements
This MD&A contains forward-looking statements
within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995, including statements
relating to:
•the Company’s plans to continue to invest in core
research and development to enhance the
BlackBerry product portfolio;
•the Company’s plans to foster new international
business relationships with global carriers and to
extend its enterprise market leadership into the
prosumer market;
•the Company’s plans to license the BlackBerry
platform to key handset vendors through its
BlackBerry Connect program and to strengthen
its infrastructure to support subscriber growth;
•RIM’s revenue and earnings expectations;
•anticipated growth in RIM’s subscriber base;
•monthly average revenue per unit for wireless
service; and
•future product developments and releases.
The words “expect”, “anticipate”, “estimate”,
“may”, “will”, “should”, “intend”, “believe”, “plan”
and similar expressions, are intended to identify
forward-looking statements. Forward-looking
statements are based on estimates and assumptions
made by RIM in light of its experience and its
perception of historical trends, current conditions
and expected future developments, as well as other
factors that RIM believes are appropriate in the
circumstances. Many factors could cause RIM’s
actual results, performance or achievements to
differ materially from those expressed or implied by
the forward-looking statements, including, without
limitation, the following factors, which are discussed
in greater detail in the “Risk Factors” sections of
RIM’s public filings with the United States Securities
and Exchange Commission and securities regulators
in Canada:
•possible failure of RIM’s appeal of the judgment
in the NTP litigation;
•third-party claims for infringement of intellectual
property rights by RIM;
•RIM’s ability to successfully obtain patent or
other proprietary or statutory protection for its
technologies and products;
•RIM’s ability to enhance current products and
develop and introduce new products;
•the efficient and uninterrupted operation of
RIM’s network operations center and the
networks of its carrier partners;