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The
Canadian smartphone pioneer has gone through a wrenching
transition in recent years featuring huge writedowns and job
cuts as it seeks to build up a software business not tied
directly to its eponymous smartphones, which have fallen from
market dominance to also-ran in the iPhone and Android era.
The Waterloo, Ontario-based company said it had a net loss of
$117 million, or 22 cents a share, on revenue of $289 million in
its fiscal third quarter. A year ago, it reported a net loss of
$89 million, or 17 cents a share, on revenue of $548 million.
Adjusted earnings of two cents a share came in ahead of
analysts' expectations for a 1 cent a share loss, according to
Thomson Reuters I/B/E/S. Analysts had expected revenue of $331.9
million.
The company said it had software and services revenue of $160
million, while sales from its handset business dropped to $62
million from $220 million a year earlier.
The company said it expects to achieve an adjusted profit for
this fiscal year, up from a prior outlook of breakeven to a five
cent loss.
The company's Nasdaq-listed shares rose 2.7 percent to $7.92 in
premarket trading.
(Reporting by Alastair Sharp and Allison Martell; Editing by
Chizu Nomiyama)
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