TORONTO - BlackBerry Ltd. (TSX:BB) expects to receive a US$500-million tax rebate within the next year, according to a recent report filed with regulators.
The Waterloo, Ont.-based smarphone maker expects to receive the money by the end of next August, when the second quarter of the company's 2015 financial year ends.
The documents were not clear on whether the bulk of the tax refund would come from Canada, where the global smartphone company is based, or another jurisdiction.
It's common for companies with big losses to seek and receive tax refunds.
Last week, BlackBerry booked a US$965-million loss for the second quarter of its 2014 financial year, mostly due to a writedown of inventory.
More details on BlackBerry's financial situation have come to light since it made a regulatory filing earlier this week.
Among other things, the documents indicate BlackBerry expects to book US$400 million in charges from a variety of factors before the end of May 2014.
Those expenses will cover costs associated with the previously announced layoffs of 4,500 employees, the reworking of its smartphone lineup and other changes to its manufacturing, sales and marketing operations, it said.
Earlier this year, BlackBerry said it would likely book $100 million in charges through its 2014 financial year, which ends on March 1.
But the company's financial results have weakened, amid poor sales of its BlackBerry Z10 touchscreen phones, and the company is restructuring and looking for a buyer.
On Friday morning, BlackBerry shares rose a penny to C$7.98 on the Toronto Stock Exchange.
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For more than three years, iPod sales <a href="http://www.zdnet.com/the-ipod-is-on-life-support-7000001573/">have been on the decline</a> as Apple users opt for iPhones and iPads instead, according to ZDnet.
If the last time you gave out your home phone number was in elementary school, you're not alone. Half of Americans have <a href="http://www.mobilenapps.com/articles/5976/20121228/landline-phones-dying-u-s.htm">gotten rid of their landline</a>, according to a recent survey of 20,000 households by the Centers for Disease Control.
The economic downturn accelerated the decline of the newspaper industry, as advertisers continued to pull their dollars. More than 100 newspapers <a href="http://www.businessinsider.com/the-death-of-the-american-newspaper-2009-7?op=1">shuttered in 2009 alone</a>, according to Business Insider. And the downward spiral isn't over; circulation is plunging and Wall Street is getting frustrated with the industry, <a href="http://www.ajr.org/article.asp?id=4111">according to the American Journalism Review</a>.
Yes, there was a time when you had to wait days to see those photos of you and your friends from last night. But thankfully for all of us narcissists, those days are coming to an end. Cameras that actually require film, a dark room and non-digital albums are on their way out as evidenced by the<a href="http://www.huffingtonpost.com/2012/01/04/kodak-bankruptcy-chapter-11_n_1184101.html"> bankruptcy of photo giant Kodak</a> last year.
Video Rental Stores
With Netflix, On Demand, HBOGo and a variety of other video watching services available, the days of going to your local (or giant chain) video store are numbered. Once a go-to spot for tweens looking for a Saturday night activity, rental giant <a href="http://dealbook.nytimes.com/2011/03/10/bankruptcy-judge-approves-sale-of-blockbuster/">Blockbuster filed for bankruptcy</a> in 2011.
Once the go-to gadget for business people and BBM-loving sorority sisters alike, the Blackberry has lost its cache (and <a href="http://www.therecord.com/news/business/article/844005--rim-shares-fall-on-report-of-declining-u-s-market-share">marketshare</a>) to the iPhone and Android. The brand <a href="http://www.usatoday.com/story/money/business/2012/10/08/brands-most-value-lost/1619827/">lost 39 percent of its value</a> last year, according to 24/7 Wall Street. We can't say we'll miss those blinking red lights.
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Creepy listings for sex, cars, puppies and apartments have now moved to the internet. Classified <a href="http://www.poynter.org/latest-news/business-news/the-biz-blog/100565/classified-ad-revenue-down-70-percent-in-10-years-with-one-bright-spot/">ad revenue plunged 70 percent</a> over 10 years in the decade leading up to 2011, according to Poynter. Thankfully you can still find all of that stuff on Craigslist.
The days of waiting for a letter from a loved one (or lover) are long gone. Don't believe us? The agency responsible for carrying those letters has <a href="http://www.huffingtonpost.com/2012/07/16/going-postal-what-would-a_n_1677892.html">been on the financial edge for months</a>. You can thank email, scanners, the cloud etc. for that.
Bar soap sales have <a href="http://www.startribune.com/business/yourmoney/127246443.html?refer=y">dropped 85 percent</a> over the past 20 years, according to the Minneapolis Star Tribune, largely because Americans are starting to believe bars are less hygienic than gels or body wash.
With CDs, USB drives, the cloud and countless other ways to transfer information on your computer, floppy disks have gone out of fashion. But don't worry, there are still many uses for square data holders -- you could <a href="http://www.huffingtonpost.com/2012/10/09/craft-of-the-day-floppy-disk-planters_n_1951187.html">turn them into vases</a> for example.
As consumers become more concerned with using environmentally-friendly containers, <a href="http://www.startribune.com/lifestyle/blogs/127299188.html">traditional bottled water</a> may soon be on its way out, according to the Minneapolis Star-Tribune. Coca-Cola and Pepsi, which both make bottled water, are already trying to use less plastic in their bottles.
Stick Shift Cars
As cars with automatic transmissions are becoming cheaper and more fuel efficient, the reasons to buy a stick shift <a href="http://content.usatoday.com/communities/driveon/post/2010/07/stick-shift-death-watch-automatics-costing-less-better-mpg/1#.UOYI5Injlsl">car are disappearing</a>, according to USA Today. Soon engaging the clutch could be a thing of the past.
With Wikipedia and countless other internet sources available for looking up useful (and useless) information, encyclopedias are soon to be forever enshrined as an item on your grandmother's bookshelf. The proof: Encyclopedia Britannica announced in March that it <a href="http://www.huffingtonpost.com/2012/03/13/encyclopaedia-britannica-online_n_1343263.html">would be stopping its print edition</a>.
We can't say we'll miss this one too much. With email and scanners, the fax machine will thankfully soon just be a <a href="http://www.guardian.co.uk/technology/2009/jul/14/fax-machine-mia-farrow">subject of office lore</a>.