Blackberry 2009 Annual Report Download - page 17

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RESEARCH IN MOTION LIMITED
management’s discussion and analysis of financial
condition and results of operations
FOR THE THREE MONTHS AND FISCAL YEAR ENDED FEBRUARY 28, 2009
• the Company’s expectations with respect to the sufficiency
of its financial resources.
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” section of RIM’s Annual
Information Form, which is included in RIM’s Annual Report
on Form 40-F:
• third-party claims for infringement of intellectual property
rights by RIM and the outcome of any litigation with
respect thereto;
• RIM’s ability to successfully obtain patent or other
proprietary or statutory protection for its technologies and
products;
• RIM’s ability to obtain rights to use software or
components supplied by third parties;
• reduced spending by customers due to the uncertainty of
economic and geopolitical conditions;
• RIM’s ability to enhance current products and develop new
products;
• RIM’s ability to establish new, and to build on existing,
relationships with its network carrier partners and
distributors;
• RIM’s dependence on its carrier partners to grow its
BlackBerry subscriber account base;
• RIM’s dependence on a limited number of significant
customers;
• the efficient and uninterrupted operation of RIM’s network
operations center and the networks of its carrier partners;
• the occurrence or perception of a breach of RIM’s security
measures, or an inappropriate disclosure of confidential or
personal information;
• RIM’s ability to manage production facilities and its
reliance on third-party manufacturers for certain products;
April 7, 2009
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, 2009. The Consolidated Financial Statements
have been prepared in accordance with United States
generally accepted accounting principles (“U.S. GAAP”).
All financial information herein is presented in United
States dollars, unless otherwise indicated.
RIM has prepared this MD&A with reference to National
Instrument 51-102 “Continuous Disclosure Obligations” of
the Canadian Securities Administrators. Under the U.S./
Canada Multijurisdictional Disclosure System, the Company
is permitted to prepare this MD&A in accordance with the
disclosure requirements of Canada, which requirements
are different from those of the United States. This MD&A
provides information for the fiscal year ended February 28,
2009 and up to and including April 7, 2009.
Additional information about the Company, including the
Company’s Annual Information Form, which is included in
RIM’s Annual Report on Form 40-F, can be found on SEDAR
at www.sedar.com and on the U.S. Securities and Exchange
Commission’s (“SEC”) website at www.sec.gov.
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 and applicable Canadian securities laws, including
statements relating to:
• the Company’s expectations regarding the average selling
price (“ASP”) of its BlackBerry devices;
• the Company’s estimates regarding revenue sensitivity for
the effect of a change in ASP;
• the Company’s expectations regarding gross margins and
operating expenses;
• the Company’s estimates regarding its effective tax rate;
• the Company’s expectations relating to the effect of the
enactment by the Government of Canada of legislative
proposals to implement amendments to the Income Tax
Act (Canada) with respect to the functional currency tax
reporting rules;
• the Company’s estimates of purchase obligations and
other contractual commitments; and