December 19, 2014 / 1:57 PM / 4 years ago

BRIEF-BlackBerry CEO says not satisfied with revenue

Dec 19 (Reuters) - BlackBerry Ltd : * CEO John Chen says continues to expect to turn profitable in fiscal 2016 * CEO John Chen Says revenue number this quarter is not satisfying * Blackberry’s Chen says expects average selling price of hardware should tick

higher with new lineup * Blackberry’s Chen says old device inventory is down 93 percent year-over-year * Blackberry’s Chen says orders for new ‘classic’ device ahead of where

‘passport’ was at launch * CEO says was only able to fulfill certain hardware orders after end of Q3,

noting this led to weak hardware revs in Q3 * CEO says “it is my belief we can stabilize and grow our revenues in fiscal

year 2016” * Blackberry’s Chen says has a “pretty strong” device road map, will discuss at

conference in March * Blackberry’s Chief Financial Officer James Yersh says average selling price

for devices was roughly $180, expects this to rise with new devices * CFO Yersh says hardware gross margins were positive for second straight

quarter, models high 40 percent range in next couple of quarters * CEO John Chen says still expects to double software revenue next year,

looking for monetization to kick in around second quarter * Blackberry’s Chen says cannot promise profitability over whole of fiscal

2016, will depend on how quickly company’s quarterly bottom line improves * CFO Yersh says don’t expect a significant decline in operating expenses from

current level

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