Q3 2013 Conference CallHighlights from Q3 2013 conference call
Cash grew by more than $600 million in the quarter to $2.9 billion, even after the funding of all of our restructuring activities.
Our core financial objective has been achieved 1 quarter ahead of our initial target, and we have already delivered $1 billion in cost reductions this year.
Working capital performance has been very strong, resulting in significant cash flow, and these resources will be reinvested in our BlackBerry 10 launch
Starting in the fourth quarter, we will begin seeing revenue from BlackBerry 10 devices.
Service revenues are not going away, and our business model and service offerings is going to evolve. Our vision is to position BlackBerry as the clear leader in the enterprise mobility market. While the mix and level of service fees revenue will change going forward and will be under pressure over the next year during this transition, but we are targeting to grow service revenue in smartphones, tablets and embedded application to a new offering with new partners and across platforms other than BlackBerry 10, we're making these changes to meet the competitive dynamics of the marketplace but, more importantly, to allow us to pursue the broad opportunities in mobile computing that BlackBerry 10 and our infrastructure enables us to do.
Estimated sell-through in the quarter was approximately 8.4 million units
Service revenue was $974 million
We will redeploy cash into working capital and marketing activities for the BlackBerry 10 launch. However, we anticipate that we will still end the fiscal year with a cash position substantially higher from the $2.1 billion when we started the year, including the funding of all restructuring costs. We've demonstrated our ability to maintain a strong financial position throughout our transition to BlackBerry 10, and we will continue to work towards a return to profitability
we now expect the total cash cost of the CORE activities to be approximately $250 million by the end of fiscal 2013, compared to the initial estimated cost of $350 million
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