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BlackBerry Limited Message Board

  • maria_bartimomo maria_bartimomo Sep 29, 2006 5:27 PM Flag

    CHECK THE BALANCE SHEET BOZOS

    hhhhttp://www.rim.net/investors/releases/2006/pr-28_09_2006-02.shtml

    scroll down:

    Receivables up, inventories up

    Trade receivables 376,510 315,278
    Other receivables 32,178 31,861
    Inventory 195,665 134,523

    Liabilities up too:

    Accounts payable $ 120,685 $ 94,954
    Accrued liabilities 178,939 144,912
    Income taxes payable 38,943 17,584

    THIS IS HOW THEY MADE THEIR NUMBERS. Even then net income up only 27% This shit is trading at pe = 52 when the biggest bubble in the US history The REAL ESTATE is bursting

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    • Maria,

      Maybe you can shed some light on this. Like you, I found the market reaction to figures that aren't going to be audited for quite some time a little troubling. It seemed convenient to postpone any filings and literally blow sunshine up investor's a$$e$.

      That said, can you tell me how stock that is bought back is treated? By my calculation, the booked $53M in profits on the 3.2M shares they purchased at 64 which closed out the quarter at $82. That translates to about 27 cents per share.

      The reduced share count also tricks out already stretched numbers. Any idea which banks helped them with the buy back?

      Thanks,
      B1

      • 4 Replies to bitter1andthendone
      • A company cannot book income from a stock buy back. The buyback takes place entirely on the balance sheet, not the income statement. CASH is reduced and so is STOCKHOLDER'S EQUITY. The only impact on the income statement is that the number of shares are reduced, and this has an impact on EPS. The impact however depends on a number of factors. For example, what return would the cash have given if they had not bought back the shares? If it would have given a return higher than the Return on Stockholders Equity then it can actually reduce EPS. But in this case I don't think it has material impact on EPS. Also to respond to Maria, as sales increase Accounts Receivable and Inventory normally increases at about the same percentage, thus one would expect a healty increase in those two items. The company has a good quarter, but it is being compared to last year where performance was poor. Their forecast seems a bit aggressive.

      • Fasinating math. Where does it show that the increase in value of repurchased shares was taken into income? It doesn't.

        Actual fact is that those 6.3 millions shares that were repurchased at an average cost of $62.10 were cancelled. They no longer exist. Check the last sentence of the annual report on page 62 where it states: "All common shares
        repurchased by the Company pursuant to the Common Share Repurchase Program have been cancelled."

        The only impact they could have had is that the earnings would now be spread over 6.3 million fewer shares making the per share income number higher.

        So, lets adjust the earnings per share. One year ago, the number of basic shares was 190.896 million when they earned $0.58 per share. Use the same number of shares this time for an apples to apples comparison of earnings per share and you get $0.737. Not $0.76 granted, but not much of an impact and if I'm not mistaken, that is still a nice 27% growth in earnings per share.

        However - One year ago, the share price the day after earnings closed at $70. This year it closed at $102.65 a 46.6% jump in price based on a 27% growth in earnings per share. That is why I shorted the stock yesterday. It went way overboard. It should drop back here to a more reasonable level. Let's monitor actual Pearl sales as we head towards Christmas and then head back up on better information to justify the price.

      • from their balance sheet:
        http://www.rim.net/investors/releases/2006/pr-28_09_2006-02.shtml

        The outstanding shares they are using to calculate EPS is:

        2006-9-2 2006-6-3 2005-8-27
        183,808 186,523 191,024

        So by buying back shares, they effectively reduced # of outstanding shares, boosted earning per share

      • Wow. You hit it on the nail on the head. -27 cents is a huge miss. I think the buyback bought back around 5% shares which means they actually had a terrible quarter if it weren't for those two things. This company is so crooked. They gave such high forecast to counteract the the options backdating. PE 52 is gonna get chopped.

    • this outstanding issue must be addressed. can't just fade away,

      • 3 Replies to auramon
      • Bulls don't want to look at the facts. Drunk frenzy continues to build a pyramid yet again. Suckers rally may be coming to end from today onwards.

      • CEO CROOK PUMPS & LOOK TAIWAN SUBS IN THE FUTURE? (Not rated) 8 second(s) ago
        Taiwan Mobile annouces BlackBerry costs, fees
        Posted Dec 21st 2006 7:44AM by Russell Shaw
        Filed under: 7290, International, 8700


        Taiwan Mobile has announced fees for their BlackBerry services.

        Currently offering the BlackBerry 7290 and BlackBerry 8700g, monthly fees will range fromNT$899 (US$28) to NT$1,799.

        The company will offer the BlackBerry 7290 and 8700g handsets for sale at NT$7,990 (US$245) and NT$12,990, respectively.

        For NT$899 a month, a subscriber of the service can transfer up to 2MB (megabytes) of data with additional data transfers charged NT$0.15 per KB (kilobyte), according to TWM. The NT$1,799 plan allows for unlimited data transfer, noted the company.

        Overseas roaming will operate this way: 40% off in the seven countries that are members of the Bridge Mobile Alliance, of which TWM is a member; 20% off in the US for T-Mobile users and 50% off for Cingular users; in China, NT$0.23 discounted per KB for users of China Mobile.

        Ooly 2,000-3,000 handsets are initially available for sale, TWM president Harvey Chang said. But he added that enough BlackBerrys would be available to serve an anticipated 10,000 BlackBerry subscribers within a year to year and a half.

      • """"ENRON"""" AKA JIMMYRON >>>>>>>>>>>>>

        ANALYST CROOKS: ENRON REPEAT FOLKS

        KEEP UP GREAT DISCETION OF THIS FRAUD PUMP SCAM

    • we gotta publish this on popular public media, such as WSJ.

      • 2 Replies to auramon
      • Only a insane will hold or buy this scam (not rated) 3 second(s) ago
        ceo crook

        cc garbage but analyst crooks also in sync with the crook spin research reports

        proofs :

        compare cc with analyst crooks spins

        outright fraud

      • CEO CROOK & COOK BOOK & STOCK OPTION SCAM IS ROCK SOLID:Proof (Not rated) 2 minutes ago
        LOOK BRCM AKA FRAUDCOM CROOKS WERE BARKING WHAT?

        FRAUDCOM INSIDER CROOKS : STOCK OPTION SCAM REVEALED (Not rated) 25-Dec-06 05:55 pm
        Broadcom says options dated 'after the fact'
        Los Angeles Times

        By James S. Granelli

        December 18, 2006

        Now it's just a matter of determining the degree.
        Broadcom Corp. acknowledged Monday that former executives picked the grant dates for stock options 'after the fact' in apparent violation of accounting rules. The Irvine semiconductor company would not name the employees or say how many were involved. The Securities and Exchange Commission also elevated its inquiry into Broadcom's stock options accounting to a formal investigation. 'The company has acknowledged wrongdoing,' said analyst Rob Enderle of market research firm Enderle Group. 'Now it's just a matter of determining the degree.'
        http://www.topix.net/content/trb/0393493...

    • hmmm, "preliminary second quarter results" "potential restatement" Beats est. (at least in "unaudited" release) by less then 5% but the stocks closes up almost 20%. hmmm, all pre-market "work", flatlined the charts all day. Guess that would take a lot of shares to keep it up, all day. Smells a little fishy. hey, we can all look foward to "Profit taking Monday". Did anyone really pay $100+ a share today?

    • So, what is your point?

    • Hey honey you are on to something.Love You

    • this is it.

    • I watch you on TV every day and you are in my wet dreams every night. Get out of my dreams and get into my bed.

    • as long as the stock price is up, regardless of the book cooking or manipulation.

      Is there any way to straighten things out without the initiative of the shareholders ?

    • a lot of smoking guns and not guilty. a lot of doubts and still everything is just perfect ..
      sounds like O. J. Simpson trial ?

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