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F1Q14 Earnings Call
June 28, 2013 8:00 a.m. ET
Paul Carpino - IR
Thorsten Gerhard Heins - CEO
Brian Bidulka - Chief Financial Officer
Gus Papageorgiou - Scotia Bank
Maynard Um - Wells Fargo
Peter Misek - Jefferies
Todd Coupland - CIBC World Markets
Simona Jankowski - Goldman Sachs
Richard Kramer - Arete Research
Ehud Gelblum - Morgan Stanley
Amitabh Passi - UBS
Rod Hall - JPMorgan
Kulbinder Garcha - Credit Suisse
Richard Tse - Cormark Securities
Jim Suva - Citigroup
Ben Bollin - Cleveland Research
Previous Statements by BBRY
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Thank you, operator. Welcome to BlackBerry’s 2014 first quarter results conference call. With me on the call today are Thorsten Heins, our chief executive officer; and Brian Bidulka, our chief financial officer.
After I read our cautionary note regarding forward-looking statements, Thorsten will provide a business update, and Brian will then review the fourth quarter results. We will then open up the call for questions.
This call is available to the general public via call-in numbers and via webcast in the Investor Relations section of blackberry.com. The webcast can be accessed through your BlackBerry 10 smartphone, your personal computer, or your BlackBerry PlayBook. A replay of the webcast will also be available on the blackberry.com website. We plan to wrap up the call around 9:00 a.m. Eastern this evening. In order to let as many people as possible ask questions, please limit yourself to one question.
Some of the statements we will be making today constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These include statements about our plans, strategies, objectives, and expectations, and the anticipated opportunities and challenges in 2014; our plans and expectations relating the BlackBerry 10 platform including BES 10 and its impact on our business; our vision regarding the new world of mobile computing; our product development sales and marketing initiatives, including other investments in the BlackBerry 10 platform; our plans regarding new service offerings and strategy, including with respect to [CBM and BBM] channels and assumptions regarding our new service revenue model; our assumptions regarding future revenue recognition for services in Venezuela; our plans regarding Playbook; our anticipated financial results for Q2; our anticipated cash position and sufficiency of financial resources; and other statements regarding our plans, objectives, and expectations.
We will indicate forward-looking statements by using words such as expect, plan, anticipate, estimate, may, will, should, forecast, intend, believe, continue, and similar expressions. All forward-looking statements reflect our current views with respect to future events and are subject to risks and uncertainties and assumptions we have made.
Many factors could cause our actual results, performance, or achievements to be materially different from those expressed or implied by our forward-looking statements, including our ability to enhance our current products and develop new products and services; risks related to the anticipated decline in our service fees and our ability to generate service revenues through new offerings; risks related to intense competition; our reliance on carrier partners and distributors; risks relating to network disruptions and other business interruptions; our ability to realize the benefits of our core program and similar strategies; risks related to our international operations, including in Venezuela; our ability to maintain or increase our cash balance; security risks; our ability to retain and attract key personnel; intellectual property risks; difficulties in forecasting financial results given the rapid technological changes, evolving industry standards, intense competition, and short product lifecycles that characterize our industry; and other factors set forth in the Risk Factors and MD&A sections in BlackBerry's filings with the SEC and Canadian securities regulators.
We base our forward-looking statements on information currently available to us, and we do not assume any obligation to update them except as required by law.
I will now turn the call over to Thorsten.
Thorsten Gerhard Heins
Thank you, Paul. During the first quarter, BlackBerry continued to move forward with its transition, and I’m encouraged that three of our four regions returned to sequential revenue growth as BlackBerry 10 continues its rollout.
I will let Brian take you through the quarter details shortly, but I would like to focus my remarks on how we are positioning the company in fiscal 2014. BlackBerry 10 is still in the early stages of its transition. In fact, we’re only five months into what is the launch of an entirely new mobile computing platform.
We are five months into our platform transformation that we anticipate will drive future smartphone devices, greater enterprise efficiencies, and new mobile computing opportunities for many years to come.
We’ve never been a device-only company, as we are also running a global secure data network and services business. And we don’t plan to run the company with a short term device-only strategy. What is exciting about BlackBerry today is that we are getting very comfortable with who we are as a company, and where we will fit in the market.
Embracing our heritage of mobility first is very important as we build our culture and go through this transition. We don’t have to be all things to all people and all markets, and embracing this focus allows us to drive efficiency, be flexible and agile, and to ultimately drive best-in-class innovations.