Blackberry 2013 Annual Report Download - page 205
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Research In Motion Limited
Management’s Discussion and Analysis of Financial Condition and Results of Operations
Net Income
Net income decreased by $2.2 billion to $1.2 billion in fiscal 2012 compared to net income of $3.4 billion in the prior fiscal year.
Excluding the impact of charges related to the Q4 Goodwill Impairment Charge, the Q4 BlackBerry7 Inventory Provision, the Cost
Optimization Program, the PlayBook Inventory Provision and the charges related to the Q3 Service Interruption, net income
decreased by $1.2 billion compared to fiscal 2011. The $1.2 billion decrease in net income primarily reflects a decrease in the
Company’s gross margin, which was negatively impacted by the decreased number of BlackBerry handheld device shipments in
fiscal 2012 compared to fiscal 2011, as well as a change in the mix of BlackBerry handheld devices sold, which were weighted
towards products with lower average selling prices and gross margins. In addition, an increase in operating expenses in the amount of
$534 million also contributed to the decrease in net income compared to fiscal 2011. The impact of the BlackBerry PlayBook sell-
through programs conducted during the third and fourth quarters of fiscal 2012 further contributed to the year-over-year decline in the
consolidated gross margin. This decrease was partially offset by an increase in service revenue as a result of additional subscriber
accounts, as well as a decrease of $886 million in the provision for income taxes.
Basic and diluted EPS from continuing operations was $2.23 in fiscal 2012, a decrease of approximately 65% compared to $6.36
basic EPS and $6.34 diluted EPS from continuing operations in fiscal 2011.
The weighted average number of common shares outstanding was 524 million common shares for both basic and diluted EPS for the
fiscal year ended March 3, 2012 compared to 536 million common shares for basic EPS and 538 million common shares for diluted
EPS for the fiscal year ended February 26, 2011.
Common Shares Outstanding
On April 4, 2012, there were 524 million voting common shares, options to purchase 4 million voting common shares, 8 million
restricted share units and 0.1 million deferred share units outstanding.
The Company has not paid any cash dividends during the last three fiscal years.
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