BlackBerry reports surprise profits for 4th fiscal quarter

PanARMENIAN.Net - BlackBerry has reported surprise profits for its fourth fiscal quarter, marking its second consecutive quarter in the black, Digital Spy reports.

The Canadian smartphone maker posted profits of $28 million, a far cry from its $148 million deficit one year earlier.

However, the company's revenue slid to $660 million from $793 million, which was a bigger dip than analysts were expecting.

"Our focus this past year was on getting our financial house in order while creating a multi-year growth strategy and investing in our product portfolio," said BlackBerry CEO John Chen in a statement.

"We now have a very good handle on our margins and our product roadmaps have been well received.

"The second half of our turnaround focuses on stabilisation of revenue with sustainable profitability and cash generation."

BlackBerry's reported positive cash flow of $76 million during the three-month period ending on February 28, compared to last year's $784 million cash burn.