1. JasW's Avatar
    From this morning's Times. Just when you thought things couldn't be any more uncertain. At least the results will be released.

    BlackBerry Cancels Call to Discuss Its Results
    Published: September 25, 2013

    OTTAWA — The management of the ailing smartphone maker BlackBerry canceled a conference call scheduled for Friday to discuss the company’s quarterly financial results.

    While BlackBerry said on Wednesday evening that those results would still be released, it added that the call with analysts and investors was called off because of a conditional and tentative bid for the company announced by its largest shareholder, Fairfax Financial Holdings, on Monday.

    The company also said that a written discussion about its financial condition from its management, which is normally released with the quarterly results, would not be available until next week.

    On Friday, BlackBerry issued a prerelease announcement indicating that it would post a loss of about $1 billion for the quarter and revenue well below analysts’ expectations. Both are a result of the apparent failure of a new line of BlackBerry 10 phones that were supposed to restore the company’s former fortunes. Consumers, however, appear to be indifferent to them. The company also announced on Friday that it planned to lay off 40 percent of its already diminished work force, or about 4,500 people.

    The conference call cancellation adds to the uncertainty and questions surrounding the company, which is based in Waterloo, Ontario.

    On Monday, Fairfax, which owns about 10 percent of BlackBerry, said it had signed a letter of intent under which it might pay $9 a share to take BlackBerry private, assuming a variety of conditions were met. If completed, the transaction would value BlackBerry at $4.7 billion.

    But Fairfax is not bound to complete the deal nor is it held to the $9-a-share price while it conducts due diligence over the next six weeks. While Fairfax, an insurance, reinsurance and investment company based in Toronto, will not pay any penalty if it walks away, BlackBerry must pay $157 million to Fairfax if it finds a better offer before Fairfax commits.

    source: http://www.nytimes.com/2013/09/26/te...s-results.html
    09-26-13 05:34 AM
  2. FFR's Avatar
    Earnings must be disastrous.
    09-26-13 05:45 AM
  3. Taigatrommel's Avatar
    It has already been reported here on CB and is already being discussed at a number of threads. I am not shareholder or financial person, yet I think the cancelation of that earnings call is really bad and negative move by BBRY.

    Posted via the awesome Blackberry Q10
    09-26-13 05:50 AM
  4. JasW's Avatar
    It has already been reported here on CB and is already being discussed at a number of threads.
    I saw that someone mentioned it overnight in the long thread on Monday's letter of intent. It is certainly sufficiently significant news to warrant its own thread. The Times does not run daily articles on BBRY.
    09-26-13 06:01 AM
  5. TGR1's Avatar
    Has Heins made a public appearance at all recently?
    09-26-13 07:30 AM
  6. Taigatrommel's Avatar
    Has Heins made a public appearance at all recently?
    None that I know of. He hasn't been there during Z30 announcement(s) and he hasn't seen at BB Jam Asia either, which would've been surprising anyway. So no official BBRY related appearences from him since last quarters earnings call.

    Posted via the awesome Blackberry Q10
    09-26-13 07:35 AM
  7. howarmat's Avatar
    09-26-13 08:09 AM

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