NEW YORK ( TheStreet) -- I won't throw salt on the wounds of BlackBerry ( BBRY) shareholders. I've been accused of doing this too much after each earnings release. But if you will allow me, I've got a few things I need to get off my chest after this recent disaster.The last time I talked about BlackBerry here on TheStreet, I told investors the company was sending some mixed signals. I said this despite what was (on balance) a decent quarter, upon which shareholders jumped for joy. I said, not so fast. After having taken some time to sort through the 8-K filing, I pointed out what I thought were potential weaknesses in the company's business -- particularly in the service revenue. BlackBerry investors insisted on dismissing my pessimism, reminding me of how long I've been "bashing" the company. But on Friday, BlackBerry's glaring service weakness that I discussed exactly three months ago came home to roost. Following BlackBerry's better-than-expected fourth-quarter earnings results in March, I said:
As I indicated in April, BlackBerry ended the fourth quarter with 76 million subscribers, down from 79 million in the previous quarter. Even so, 76 million is still a stout figure, especially when you consider that the service business accounted for well over 30% of BlackBerry's fourth-quarter sales. And let me re-emphasize that services generate the highest profit margin. So, how this company thinks it's suddenly okay to not provide investors with this information is inexcusable. I exposed the year-over-year and sequential service decline last quarter. If I'm forced to speculate on how services performed this quarter, so be it. But logic says management would not withhold that data it the company was proud of the performance. putting its foot in its mount. As an analyst, I didn't realize then how good I had it. If I seem too harsh, it's because this company has an uncanny way of shooting itself in the foot. As much as I would like to say something remotely positive, I can't. I don't believe it serves the company's interest to anger writers. That speaks very loudly. One other thing: I'd like to hear from the analysts who were touting this company and raising its price target to $20 per share several months ago. What information were you using? At the time of publication, the author held no position in any of the stocks mentioned. Follow @saintssense This article was written by an independent contributor, separate from TheStreet's regular news coverage.