BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is still the top IT company in Canada
, but the company’s reign at the top is based on little other than the dreams of its accountants. In this year’s Branham 300 listing of the top Canadian information and communication technology firms Blackberry came in at number one, but it appears that the company’s prestigious vantage point is coming to an end.
The list takes into account 2013 revenue numbers, a metric which is ill-suited to the way BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) presents itself. The company’s 2014 numbers have already been released, and they show the worthlessness of its apparent number one spot.
Blackberry sinks in Canadian tech
The Branham 30 list ranks Canadian companies in the communications and IT sector by revenue. The company’s value has declined by close to 90% in the last five years, and Canada’s presence in the international tech industry appears to be dwindling with BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB).
CGI Group Inc. (TSE:GIB.A) is the company most likely to take the top spot from BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) when the report is released in 2015. That company’s revenue has risen by more than 111% since 2012, putting it firmly in second place with total sales of CAD$10.1 billion. BlackBerry revenue totaled 11.01 billion in 2013.
Unfortunately for fans of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB), the company’s 2014 earnings number have already been released. The company brought in CAD$6.8 billion in the twelve months of that fiscal year meaning it’s far from the top, and its current position is a mere accounting technicality.
Blackberry prospects may be looking up
It’s not hard to look up from the bottom of a canyon, and BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) investors have been doing just that for the last couple of years. The firm’s stock has not risen on the back of that optimism, though there is always the possibility of a recovery in Waterloo.
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) still has trustworthy brand and the company probably still has a couple of engineers left on staff. Its enterprise software offerings are rumored to hold its best potential right now, but that may change, as theories have over the last year.
If it cannot find a niche, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is not long for this world. The company is still spending a huge amount of money to get its hardware to work, and that money may as well be burned for all the good it’s doing for shareholder value.
It’s no longer possible to call any moment a crossroads for BlackBerry — the company’s been refusing to make public decisions about its business for a long time. Its departure from the top of the Canadian tech industry will be greeted as the end of an era, and that’s likely to happen officially in 2015.