Research In Motion Limited (RIMM)
Q4 2012 Earnings Call
March 29, 2012 5:00 pm ET
Paul Carpino -
Thorsten Gerhard Heins - Chief Executive Officer, President and Director
Brian Bidulka - Chief Financial Officer
Kulbinder Garcha - Crédit Suisse AG, Research Division
Jeffrey T. Kvaal - Barclays Capital, Research Division
Richard Kramer - Arete Research Services LLP
Gus Papageorgiou - Scotiabank Global Banking and Market, Research Division
Simona Jankowski - Goldman Sachs Group Inc., Research Division
Amitabh Passi - UBS Investment Bank, Research Division
Tim Long - BMO Capital Markets U.S.
Jim Suva - Citigroup Inc, Research Division
Previous Statements by RIMM
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Good evening, ladies and gentlemen, and thank you for standing by. Welcome to the Research In Motion Fourth Quarter Fiscal 2012 Results and Year End Conference Call. [Operator Instructions] I would like to remind everyone that this conference call is being recorded today, Thursday, March 29, 2012, at 5 p.m. Eastern time. I would now turn the conference over to Mr. Paul Carpino, Vice President, Investor Relations. Please go ahead, sir.
Thank you. Welcome to RIM's Fiscal 2012 Fourth Quarter and Year End Results Conference Call. With me on the call today are Thorsten Heins, CEO; and Brian Bidulka, CFO.
After I read our cautionary note regarding forward-looking statements, Thorsten will provide the business and strategic update. Brian will then review the fourth quarter results and our outlook. We will then open up the call for questions. This call is available to the general public via call-in number and via webcast on the Investor Relations section at rim.com. A replay of the webcast will also be available on the rim.com website. We plan to wrap up the call around 6:00 p.m. Eastern this evening. [Operator Instructions]
Some of the statements we will be making today constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These include statements about our plans, strategies and objectives and the anticipated opportunities and challenges in the coming quarters; our expectations with respect to product shipments, revenue, gross margin, operating expenses, earnings, net subscribers and cash position in fiscal 2013; our product development and marketing initiative and timing including our expectations relating to our BlackBerry 10 smartphones; our plans and expectations relating to our organizational and technology transition; our plans and initiatives to improve the performance of the business, including our marketing and pricing initiatives; our guidance practices in the future; and other statements regarding our plans, objectives and expectations.
We will indicate forward-looking statements by using words such as expect, plan, anticipate, estimate, may, will, should, forecast, intend, believe, continue and similar expressions. All forward-looking statements reflect our current views with respect to future events and are subject to risks and uncertainties and assumptions we have made.
Many factors could cause our actual results, performance or achievements to be materially different from those expressed or implied by our forward-looking statements, including our ability to enhance our current products and develop new products and services; risks related to further delays in new product introductions; risks related to intense competition both in North America and internationally; our reliance on carrier partners and distributors; security risks and risks related to the collection, storage, transmission use and disclosure of personal information; risks relating to network disruptions and other business interruptions; our ability to manage inventory and asset risks; our ability to implement and realize the benefits of our of our Be Bold Excellence program; our ability to maintain or increase our cash balance; potential additional impairment charges; our ability to retain and attract key personnel; our ability to maintain and enhance the BlackBerry brand; risks associated with our international operations; intellectual property risks; difficulties in forecasting financial results given the rapid technological changes evolving industry standards, intense competition and short product life cycles that characterize our industry and other factors set forth in the risk factors and MD&A sections in RIM's filings with the SEC and Canadian securities regulators. We base our forward-looking statements on information currently available to us, and we do not assume any obligation to update them, except as required by the law.
I will now turn the call over to Thorsten.
Thorsten Gerhard Heins
Thank you, Paul, and thank you all for joining the call today. I've been the CEO of RIM for just over 10 weeks now, and my main focus during this time has been to meet RIM and listen to RIM's many stakeholders, including customers, partners, developers, carriers, shareholders and employees. And I undertook an extensive review of RIM's business to evaluate where we are today.
In my discussions with our carrier partners, they expressed a strong desire to continue with BlackBerry as a significant partner. However, there's still a lot of work to be done on RIM's side to satisfy all the customer needs out there.
Since I last spoke to you back in January, I undertook a comprehensive internal review to assess the state of RIM's business. I did my own reality check on where the entire company really is. I think as the benefit of going through this process from the vantage point of CEO, it is now very clear to me that substantial change is what RIM needs. I am focused on creating long-term value for this company, and I'm committed to do whatever it takes to deliver on that commitment. Let me outline a few of the more immediate things that we are doing.
We plan to refocus on the enterprise business and capitalize on our leading position in this segment. We were delayed to the bring-your-own-device movement and we saw a significant slowing down in our enterprise subscriber growth rate as a result. I am committed with my team to reclaiming lost market share in this space.