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April 1, 2013

BlackBerry swings to profit in Q4, but revenue declines

Revenue declined 36% to $2.7bn for the quarter

By CBR Staff Writer

BlackBerry has posted a net income of $98m, or $0.19 earnings per share, for the fourth quarter of fiscal 2013, compared to a net loss of $125m, or 0.24 loss per share, for the same quarter in 2012.

The company has reported a 36% decline in its revenue to $2.7bn for the quarter, compared to $4.2bn for the same period last year.

BlackBerry said the revenue breakdown for the quarter was about 61% for hardware, 36% for service and 3% for software and other revenue.

Operating loss was $12m for the quarter, compared to $135m for the same period previous year.

BlackBerry shipped about six million smartphones and around 370,000 PlayBook tablets in the quarter.

BlackBerry president and CEO Thorsten Heins said that the company returned to profit in the quarter due to the changes it implemented over the past year.

"With the launch of BlackBerry 10, we have introduced the newest and what we believe to be the most innovative mobile computing platform in the market today," Heins said.

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"As we go into our new fiscal year, we are excited with the opportunities for the BlackBerry 10 platform, and the commitments we are seeing from our global developers and partners."

The company said its co-founder Mike Lazaridis, a former co-CEO, will step down as a director and vice chairman of BlackBerry effective 1 May this year.

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