BlackBerry said results for its fourth quarter quarter to end February came in above expectations, with adjusted earnings per share reaching USD 0.04 per share, compared to the company’s forecast at breakeven, and a loss the year before of 0.03. Looking ahead to fiscal 2017, CEO John Chen is guiding for company growth at or above the overall market in its software business, and for profitability on an adjusted basis, as well as for positive free cash flow for the full year.
For the quarter, the net loss narrowed to USD 47 million or USD 0.09 per share, from a loss the year earlier of 238 million or 0.45 million, and adjusted earnings per share rising to USD. Revenues fell to USD 286 million from 464 million the year before while the adjusted EBITDA reached USD 42 million, positive for the thirteenth consecutive quarter. The company had over 3,500 enterprise customer orders in the quarter.
Chen said the company continued to grow its mix of software and services revenue in the quarter, boosting its operating margin and cash flow, and that around 80 percent of revenue from Software & Services (excluding IP licensing and professional services) was recurring.
Total cash, cash equivalents, short-term and long-term investments increased by USD 89 million to USD 1.7 billion. Free cash flow went to USD 16 million, including cash flow from operations of USD 19 million. There were no purchase orders with contract manufacturers at the end of Q4, compared to 35 million at the end of the third quarter and down from USD 162 million a year ago.
