Blackberry needs to be investigated !!Blackberry been trying their utmost to keep the stock price down.
We are seeing this almost every Quarter under Heins
Just changed the rules again.Why
Now some phones shipped will not be recognised as Revenue until sold
- good timing to cause a loss, but later when sold it will be Revenue.
"For the second quarter, the Company expects to recognize hardware revenue on approximately 3.7 million BlackBerry smartphones. Most of the units recognized are BlackBerry 7 devices, in part because certain BlackBerry 10 devices that were shipped in the quarter will not be recognized until those devices are sold through to end customers. During the second quarter, approximately 5.9 million BlackBerry smartphones were sold through to end customers, which included shipments made prior to the second
quarter and which reduced the Company’s inventory in channel."
Lasr Quarter $72M Revenue( Venezuela) was not recognised until money will be received
They already changed the way the subscribers' base was reported.
Newer phone sales are not reported under Subscribers'base.
Previously also
They suspended the shares buyback program
Wrote off all goodwills at once, instead of periodically during the life of the underlying assets
Hiding and leaking bad news to the Media first, then confirming later.
Inventory of all finished phones was only $80M in the last Quarter 1( May 30th)
However they will write off $1B of obsolete Z10 phones not yet delivered, but because they signed an agreement with a Supplier. Why not take delivery and sell the phones cheaper.
What is this Management up to.?
But whatever the plan is, its been going on since Heins took over.