BlackBerry Limited reported financial results for fiscal 2016 second quarter ended August 29, 2015. Non-GAAP revenue was $491 million with GAAP revenue of $490 million.
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GAAP revenue reflects a purchase accounting write down of deferred revenue associated with the acquisition of WatchDox. The revenue breakdown for the quarter was approximately 15% for software and services, 41% for hardware, and 43% for service access fees (SAF).
BlackBerry had 2,400 enterprise customer wins in the quarter. Approximately 60% of the licenses associated with these deals are cross-platform. During the second quarter, the company recognized hardware revenue on over 800,000 BlackBerry smartphones with an ASP of approximately $240.
Non-GAAP loss for the second quarter was ($66) million, or ($0.13) per share. GAAP basic net income for the quarter was $51 million, or $0.10 per basic share. Basic GAAP net income includes the aforementioned purchase accounting impact on GAAP revenue, a non-cash credit associated with the change in the fair value of the debentures of $228 million, pre-tax charges of $85 million related to restructuring, stock compensation of $14 million, and amortization of acquired intangibles of $11 million.
The impact of these adjustments on GAAP net income and earnings per share is summarized in a table below.
Total cash, cash equivalents, short-term and long-term investments was $3.35 billion as of August 29, 2015. The cash balance increased $37 million in the second quarter. The company repurchased 6 million shares during the quarter for a total of $47 million.
Excluding $1.25 billion in the face value of our debt, the net cash balance at the end of the quarter was $2.1 billion. Purchase orders with contract manufacturers totaled approximately $248 million at the end of the second quarter, compared to $238 million at the end of the first quarter and down from $344 million in the year ago quarter.
Excluding the impact of foreign exchange rates, operating cash flow was $110 million with free cash flow (operating cash flow minus capital expenditures) of $100 million. ■