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BlackBerry Reports Fiscal 2020 Third Quarter Results – Yahoo Finance

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="- Total company non-GAAP revenue of $280 million , or 23% growth year-over-year; total company GAAP revenue of $267 million , or 18% growth year-over-year” data-reactid=”11″>- Total company non-GAAP revenue of $280 million , or 23% growth year-over-year; total company GAAP revenue of $267 million , or 18% growth year-over-year

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="- Total non-GAAP Software and Services revenue of $275 million , or 26% growth year-over-year; total GAAP Software and Services revenue of $262 million , or 21% growth year-over-year; both are record quarterly highs” data-reactid=”12″>- Total non-GAAP Software and Services revenue of $275 million , or 26% growth year-over-year; total GAAP Software and Services revenue of $262 million , or 21% growth year-over-year; both are record quarterly highs

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="- Total company non-GAAP earnings per basic and diluted share of $0.03 ; GAAP loss per basic share of $0.06 and GAAP loss per diluted share of $0.07 ” data-reactid=”13″>- Total company non-GAAP earnings per basic and diluted share of $0.03 ; GAAP loss per basic share of $0.06 and GAAP loss per diluted share of $0.07

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="- Total company free cash flow generated of $37 million , as reported” data-reactid=”14″>- Total company free cash flow generated of $37 million , as reported

WATERLOO, Ontario , Dec. 20, 2019 /CNW/ — BlackBerry Limited (NYSE: BB; TSX: BB) today reported financial results for the three months ended November 30, 2019 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)
BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Third Quarter Fiscal 2020 Results” data-reactid=”36″>Third Quarter Fiscal 2020 Results

  • Total company non-GAAP revenue for the third quarter of fiscal 2020 was $280 million , up 23% year-over-year. Total company GAAP revenue for the third quarter of fiscal 2020 was $267 million , up 18% year-over-year. Total non-GAAP software and services revenue was $275 million , up 26% year-over-year. Total GAAP software and services revenue was $262 million , up 21% year-over-year. Third quarter recurring non-GAAP software and services revenue (excluding IP licensing and professional services) was over 90%. Non-GAAP gross margin was 77% and GAAP gross margin was 74%.
  • Total company non-GAAP operating earnings was $20 million . Total company GAAP operating loss was $29 million . Non-GAAP earnings per share was $0.03 (basic and diluted). GAAP net loss was $0.06 per basic share and $0.07 per diluted share. GAAP net loss includes $35 million for acquired intangibles amortization expense, $15 million in stock compensation expense, $10 million in restructuring charges, a benefit of $20 million related to the fair value adjustment on the debentures, and other amounts as summarized in a table below.
  • Total cash, cash equivalents, short-term and long-term investments was $970 million as of November 30, 2019 . Free cash flow generated, before considering the impact of acquisition and integration expenses, restructuring costs and legal proceedings, was $41 million . Cash generated from operations was $40 million and capital expenditures were $3 million .

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content=""BlackBerry achieved sequential growth in revenue across all of our software businesses while generating healthy non-GAAP profitability and free cash flow as we continue to invest in our future," said John Chen , Executive Chairman and CEO, BlackBerry.&nbsp; "I am pleased with our progress.&nbsp; Our pipeline is growing as we deliver against our product roadmap and execute on our go-to-market expansion." ” data-reactid=”43″>“BlackBerry achieved sequential growth in revenue across all of our software businesses while generating healthy non-GAAP profitability and free cash flow as we continue to invest in our future,” said John Chen , Executive Chairman and CEO, BlackBerry.  “I am pleased with our progress.  Our pipeline is growing as we deliver against our product roadmap and execute on our go-to-market expansion.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Outlook
BlackBerry will provide fiscal year 2020 outlook in connection with the quarterly earnings announcement on its earnings conference call.&nbsp; The earnings call transcript will be made available on our website and on SEDAR.” data-reactid=”44″>Outlook
BlackBerry will provide fiscal year 2020 outlook in connection with the quarterly earnings announcement on its earnings conference call.  The earnings call transcript will be made available on our website and on SEDAR.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Reconciliation of GAAP revenue, gross margin, gross margin percentage, income (loss) before income taxes, net income (loss) and basic earnings (loss) per share to Non-GAAP revenue, gross margin, gross margin percentage, income before income taxes, net income and basic earnings per share for the three months ended November 30, 2019 :” data-reactid=”45″>Reconciliation of GAAP revenue, gross margin, gross margin percentage, income (loss) before income taxes, net income (loss) and basic earnings (loss) per share to Non-GAAP revenue, gross margin, gross margin percentage, income before income taxes, net income and basic earnings per share for the three months ended November 30, 2019 :

Q3 Fiscal 2020 Non-GAAP Adjustments

For the Three Months Ended November 30, 2019

(in millions, except for per share amounts)

Income statement
location

Revenue

Gross
margin
(before taxes)

Gross margin %
(before
taxes)

Income (loss)
before
income taxes

Net income
(loss)

Basic earnings
(loss) per
share

As reported

$

267

$

198

74.2

%

$

(30)

$

(32)

$

(0.06)

Debentures fair value adjustment (2)

Debentures fair value adjustment

%

(20)

(20)

Restructuring charges (3)

Cost of sales

3

1.1

%

3

3

Restructuring charges (3)

Selling, marketing and administration

%

7

7

Software deferred revenue acquired (4)

Revenue

13

13

1.1

%

13

13

Software deferred commission expense acquired (5)

Selling, marketing and administration

%

(4)

(4)

Stock compensation expense (6)

Cost of sales

1

0.4

%

1

1

Stock compensation expense (6)

Research and development

%

4

4

Stock compensation expense (6)

Selling, marketing and administration

%

10

10

Acquired intangibles amortization (7)

Amortization

%

35

35

Adjusted

$

280

$

215

76.8

%

$

19

$

17

$

0.03

Note: Non-GAAP revenue, non-GAAP gross margin, non-GAAP gross margin percentage, non-GAAP income before income taxes, non-GAAP net income and non-GAAP basic earnings per share do not have a standardized meaning prescribed by GAAP and thus are not comparable to similarly titled measures presented by other issuers. The Company believes that the presentation of these non-GAAP measures enables the Company and its shareholders to better assess the Company’s operating results relative to its operating results in prior periods and improves the comparability of the information presented. Investors should consider these non-GAAP measures in the context of the Company’s GAAP results.

(1)

During the third quarter of fiscal 2020, the Company reported GAAP gross margin of $198 million or 74.2% of revenue. Excluding the impact of stock compensation expense and restructuring charges included in cost of sales and software deferred revenue acquired included in revenue, non-GAAP gross margin was $215 million, or 76.8% of revenue.

(2)

During the third quarter of fiscal 2020, the Company recorded the Q3 Fiscal 2020 Debentures Fair Value Adjustment of $20 million. This adjustment was presented on a separate line in the Consolidated Statements of Operations.

(3)

During the third quarter of fiscal 2020, the Company incurred restructuring charges of approximately $10 million, of which $3 million was included in cost of sales and $7 million was included selling, marketing and administration expense.

(4)

During the third quarter of fiscal 2020, the Company recorded software deferred revenue acquired but not recognized due to business combination accounting rules of $13 million, which was included in BlackBerry Cylance revenue.

(5)

During the third quarter of fiscal 2020, the Company recorded deferred commission expense acquired but not recognized due to business combination accounting rules of approximately of $4 million.

(6)

During the third quarter of fiscal 2020, the Company recorded stock compensation expense of $15 million, of which $1 million was included in cost of sales, $4 million was included in research and development, and $10 million was included in selling, marketing and administration expense.

(7)

During the third quarter of fiscal 2020, the Company recorded amortization of intangible assets acquired through business combinations of $35 million, which was included in amortization expense.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Supplementary Geographic Revenue Breakdown” data-reactid=”51″>Supplementary Geographic Revenue Breakdown

BlackBerry Limited

(United States dollars, in millions)

Revenue by Region

For the Quarters Ended

November 30, 2019

August 31, 2019

May 31, 2019

February 28, 2019

November 30, 2018

North America

$

188

70.4

%

$

179

73.4

%

$

160

64.8

%

$

176

69.0

%

$

151

66.8

%

Europe, Middle East and Africa

60

22.5

%

47

19.3

%

61

24.7

%

61

23.9

%

56

24.8

%

Other regions

19

7.1

%

18

7.3

%

26

10.5

%

18

7.1

%

19

8.4

%

Total

$

267

100.0

%

$

244

100.0

%

$

247

100.0

%

$

255

100.0

%

$

226

100.0

%

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Supplementary Revenue by Product and Service Type Breakdown” data-reactid=”54″>Supplementary Revenue by Product and Service Type Breakdown

BlackBerry Limited

(United States dollars, in millions)

Revenue by Product and Service Type

U.S. GAAP

Adjustments

Non-GAAP

For the Three Months Ended

For the Three Months Ended

For the Three Months Ended

November 30,
2019

November 30,
2018

November 30,
2019

November 30,
2018

November 30,
2019

November 30,
2018

IoT

$

145

$

148

$

$

2

$

145

$

150

BlackBerry Cylance

40

1

13

53

1

Licensing

77

68

77

68

Other

5

9

5

9

Total

$

267

$

226

$

13

$

2

$

280

$

228

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Conference Call and Webcast
A conference call and live webcast will be held today beginning at 8 a.m. ET , which can be accessed by dialing 1- 877-682-6267 or by logging on at BlackBerry.com/Investors. A replay of the conference call will also be available at approximately 11 a.m. ET by dialing 1-800-585-8367 and entering Conference ID #9608207 and at the link above.” data-reactid=”57″>Conference Call and Webcast
A conference call and live webcast will be held today beginning at 8 a.m. ET , which can be accessed by dialing 1- 877-682-6267 or by logging on at BlackBerry.com/Investors. A replay of the conference call will also be available at approximately 11 a.m. ET by dialing 1-800-585-8367 and entering Conference ID #9608207 and at the link above.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) is a trusted security software and services company that provides enterprises and governments with the technology they need to secure the Internet of Things. Based in Waterloo, Ontario , the company is unwavering in its commitment to safety, cybersecurity and data privacy, and leads in key areas such as artificial intelligence, endpoint security and management, encryption and embedded systems. For more information, visit BlackBerry.com and follow @BlackBerry.” data-reactid=”58″>About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) is a trusted security software and services company that provides enterprises and governments with the technology they need to secure the Internet of Things. Based in Waterloo, Ontario , the company is unwavering in its commitment to safety, cybersecurity and data privacy, and leads in key areas such as artificial intelligence, endpoint security and management, encryption and embedded systems. For more information, visit BlackBerry.com and follow @BlackBerry.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Investor Contact:
BlackBerry Investor Relations
+1-519-888-7465
investor_relations@blackberry.com ” data-reactid=”63″>Investor Contact:
BlackBerry Investor Relations
+1-519-888-7465
investor_relations@blackberry.com

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Media Contact:
BlackBerry Media Relations
(519) 597-7273
mediarelations@blackberry.com ” data-reactid=”64″>Media Contact:
BlackBerry Media Relations
(519) 597-7273
mediarelations@blackberry.com

This news release contains forward-looking statements within the meaning of certain securities laws, including under the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including statements regarding: BlackBerry’s plans, strategies and objectives including the anticipated benefits of its strategic initiatives and its intentions to expand and enhance its product and service offerings.

The words “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “could”, “intend”, “believe”, “target”, “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by BlackBerry in light of its experience, historical trends, current conditions and expected future developments, as well as other factors that BlackBerry believes are appropriate in the circumstances. Many factors could cause BlackBerry’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including the following risks: BlackBerry’s ability to enhance, develop, introduce or monetize products and services for the enterprise market in a timely manner with competitive pricing, features and performance; BlackBerry’s ability to maintain or expand its customer base for its software and services offerings to grow revenue or achieve sustained profitability; the intense competition faced by BlackBerry; the occurrence or perception of a breach of BlackBerry’s network or product security measures or an inappropriate disclosure of confidential or personal information could significantly harm its business; risks related to BlackBerry’s continuing ability to attract new personnel, retain existing key personnel and manage its staffing effectively; BlackBerry’s dependence on its relationships with resellers and channel partners; risks related to acquisitions, divestitures, investments and other business initiatives, which may negatively affect BlackBerry’s results of operations; risks related to BlackBerry’s products and services being dependent upon interoperability with rapidly changing systems provided by third parties; the risk that failure to protect BlackBerry’s intellectual property could harm its ability to compete effectively and BlackBerry may not earn the revenues it expects from intellectual property rights; the risk that BlackBerry could be found to have infringed on the intellectual property rights of others; the risk that litigation against BlackBerry may result in adverse outcomes; risks related to the use and management of user data and personal information, which could give rise to liabilities as a result of legal, customer and other third-party requirements; BlackBerry’s ability to obtain rights to use third-party software; the risk that network disruptions or other business interruptions could have a material adverse effect on BlackBerry’s business and harm its reputation; BlackBerry’s ability to generate revenue and profitability through the licensing of security software and services or the BlackBerry brand to device manufacturers; the substantial asset risk faced by BlackBerry, including the potential for charges related to its long-lived assets and goodwill; risks related to BlackBerry’s indebtedness, which could adversely affect its operating flexibility and financial condition; risks related to government regulations applicable to BlackBerry’s products and services, including products containing encryption capabilities, which could negatively impact BlackBerry’s business; risks related to foreign operations, including fluctuations in foreign currencies; risks associated with any errors in BlackBerry’s products and services, which can be difficult to remedy and could have a material adverse effect on BlackBerry’s business; risks related to the failure of BlackBerry’s suppliers, subcontractors, channel partners and representatives to use acceptable ethical business practices or to comply with applicable laws, which could negatively impact BlackBerry’s business; BlackBerry’s reliance on third parties to manufacture and repair its hardware products; risks related to the Company’s success in fostering an ecosystem of third-party application developers; risks related to regulations regarding health and safety, hazardous materials usage and conflict minerals, and to product certification risks; risks related to tax provision changes, the adoption of new tax legislation or exposure to additional tax liabilities, which could materially impact BlackBerry’s financial condition; risks related to the fluctuation of BlackBerry’s quarterly revenue and operating results; the volatility of the market price of BlackBerry’s common shares; and risks related to adverse economic and geopolitical conditions, which may negatively affect BlackBerry.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="These risk factors and others relating to BlackBerry are discussed in greater detail in BlackBerry's Annual Information Form, which is included in its Annual Report on Form 40-F and the "Cautionary Note Regarding Forward-Looking Statements" section of BlackBerry's MD&amp;A (copies of which filings may be obtained at www.sedar.com or www.sec.gov). All of these factors should be considered carefully, and readers should not place undue reliance on BlackBerry’s forward-looking statements. Any statements that are forward-looking statements are intended to enable BlackBerry’s shareholders to view the anticipated performance and prospects of BlackBerry from management’s perspective at the time such statements are made, and they are subject to the risks that are inherent in all forward-looking statements, as described above, as well as difficulties in forecasting BlackBerry’s financial results and performance for future periods, particularly over longer periods, given changes in technology and BlackBerry’s business strategy, evolving industry standards, intense competition and short product life cycles that characterize the industries in which BlackBerry operates. BlackBerry has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.” data-reactid=”67″>These risk factors and others relating to BlackBerry are discussed in greater detail in BlackBerry’s Annual Information Form, which is included in its Annual Report on Form 40-F and the “Cautionary Note Regarding Forward-Looking Statements” section of BlackBerry’s MD&A (copies of which filings may be obtained at www.sedar.com or www.sec.gov). All of these factors should be considered carefully, and readers should not place undue reliance on BlackBerry’s forward-looking statements. Any statements that are forward-looking statements are intended to enable BlackBerry’s shareholders to view the anticipated performance and prospects of BlackBerry from management’s perspective at the time such statements are made, and they are subject to the risks that are inherent in all forward-looking statements, as described above, as well as difficulties in forecasting BlackBerry’s financial results and performance for future periods, particularly over longer periods, given changes in technology and BlackBerry’s business strategy, evolving industry standards, intense competition and short product life cycles that characterize the industries in which BlackBerry operates. BlackBerry has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions except share and per share amounts) (unaudited)

Consolidated Statements of Operations

For the Three Months Ended

For the Nine Months Ended

November 30,
2019

August 31,
2019

November 30,
2018

November 30,
2019

November 30,
2018

Revenue

$

267

$

244

$

226

$

758

$

649

Cost of sales

69

68

56

207

157

Gross margin

198

176

170

551

492

Gross margin %

74.2

%

72.1

%

75.2

%

72.7

%

75.8

%

Operating expenses

Research and development

66

62

55

199

167

Selling, marketing and administration

132

132

93

385

299

Amortization

49

48

33

146

105

Debentures fair value adjustment

(20)

(23)

(69)

(71)

(111)

227

219

112

659

460

Operating income (loss)

(29)

(43)

58

(108)

32

Investment income (loss), net

(1)

2

2

13

Income (loss) before income taxes

(30)

(43)

60

(106)

45

Provision for income taxes

2

1

1

5

3

Net income (loss)

$

(32)

$

(44)

$

59

$

(111)

$

42

Earnings (loss) per share

Basic

$

(0.06)

$

(0.08)

$

0.11

$

(0.20)

$

0.08

Diluted

$

(0.07)

$

(0.10)

$

(0.01)

$

(0.27)

$

(0.09)

Weighted-average number of common shares outstanding (000s)

Basic

554,585

552,343

540,406

552,931

538,251

Diluted

615,085

612,843

600,906

613,431

598,751

Total common shares outstanding (000s)

552,132

548,336

547,084

552,132

547,084

 

BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions) (unaudited)

Consolidated Balance Sheets

As at

November 30, 2019

February 28, 2019

Assets

Current

Cash and cash equivalents

$

515

$

548

Short-term investments

367

368

Accounts receivable, net

216

233

Other receivables

13

19

Income taxes receivable

10

9

Other current assets

58

56

1,179

1,233

Restricted cash and cash equivalents

32

34

Long-term investments

56

55

Other long-term assets

23

28

Deferred income tax assets

2

Operating lease right-of-use assets

133

Property, plant and equipment, net

76

85

Goodwill

1,459

1,463

Intangible assets, net

955

1,068

$

3,913

$

3,968

Liabilities

Current

Accounts payable

$

27

$

48

Accrued liabilities

193

192

Income taxes payable

19

17

Debentures

609

Deferred revenue, current

264

253

1,112

510

Deferred revenue, non-current

117

136

Operating lease liabilities

127

Other long-term liabilities

8

19

Long-term debentures

665

Deferred income tax liabilities

1

2

1,365

1,332

Shareholders’ equity

Capital stock and additional paid-in capital

2,742

2,688

Deficit

(157)

(32)

Accumulated other comprehensive loss

(37)

(20)

2,548

2,636

$

3,913

$

3,968

 

BlackBerry Limited

Incorporated under the Laws of Ontario

(United States dollars, in millions) (unaudited)

Consolidated Statements of Cash Flows

For the Nine Months Ended

November 30, 2019

November 30, 2018

Cash flows from operating activities

Net income (loss)

$

(111)

$

42

Adjustments to reconcile net income (loss) to net cash used in operating activities:

Amortization

160

116

Stock-based compensation

46

53

Non-cash consideration received from contract with a customer

(8)

Debentures fair value adjustment

(71)

(111)

Other long-term assets

2

Operating leases

(12)

Other

9

4

Net changes in working capital items:

Accounts receivable, net

17

13

Other receivables

6

46

Income taxes receivable

(1)

13

Other assets

3

(1)

Accounts payable

(21)

(14)

Income taxes payable

2

(1)

Accrued liabilities

(24)

(57)

Deferred revenue

(10)

(23)

Other long-term liabilities

7

Net cash provided by (used in) operating activities

(8)

82

Cash flows from investing activities

Acquisition of long-term investments

(1)

(2)

Proceeds on sale or maturity of long-term investments

2

Acquisition of property, plant and equipment

(9)

(14)

Proceeds on sale of property, plant and equipment

1

Acquisition of intangible assets

(24)

(24)

Business acquisitions, net of cash acquired

1

Acquisition of short-term investments

(829)

(2,754)

Proceeds on sale or maturity of short-term investments

830

2,962

Net cash provided by (used in) investing activities

(32)

171

Cash flows from financing activities

Issuance of common shares

8

5

Finance lease liability

(2)

Net cash provided by financing activities

6

5

Effect of foreign exchange loss on cash, cash equivalents, restricted cash, and restricted cash equivalents

(1)

(3)

Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents during the period

(35)

255

Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period

582

855

Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period

$

547

$

1,110

As at

November 30, 2019

February 28, 2019

Cash and cash equivalents

$

515

$

548

Restricted cash and cash equivalents

$

32

$

34

Short-term investments

$

367

$

368

Long-term investments

$

56

$

55

 

Cision

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SOURCE BlackBerry Limited

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Cases could spike sharply if Canadian epidemic stays on current course, Tam warns – The Globe and Mail

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Hundreds of people wait in line at a COVID-19 assessment centre at St. Michael’s Hospital in Toronto on Sept. 22, 2020.

Nathan Denette/The Canadian Press

Canada is on track to log 5,000 coronavirus cases a day by late October if the country’s epidemic continues on its current course, the Public Health Agency of Canada is warning.

In its first formal projection since mid-August, the agency predicted that if Canadians keep coming into close contact with as many people as they do now, the epidemic curve will rise sharply from the current average of about 1,000 new cases a day to five times that number within a month. That is more than twice the number reported at the height of the spring wave.

individual action: canada Long-range

covid-19 forecast

Reported daily cases

Epidemic trend, if we…

Increase current rate of contacts

Maintain current rate of contacts

Decrease current rate of contacts

JOHN SOPINSKI/THE GLOBE AND MAIL

SOURCE: public health agency of canada

individual action: canada Long-range

covid-19 forecast

Reported daily cases

Epidemic trend, if we…

Increase current rate of contacts

Maintain current rate of contacts

Decrease current rate of contacts

JOHN SOPINSKI/THE GLOBE AND MAIL

SOURCE: public health agency of canada

individual action: canada Long-range covid-19 forecast

Reported daily cases

Epidemic trend, if we…

Increase current rate of contacts

Maintain current rate of contacts

Decrease current rate of contacts

JOHN SOPINSKI/THE GLOBE AND MAIL, SOURCE: public health agency of canada

“My message today is the time is now. We’re at a bit of a crossroads,” Chief Public Health Officer Theresa Tam said. If Canadians retreat to small social circles and avoid large get-togethers, she said, the country “can manage this without a lockdown.”

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Dr. Tam said that although the number of COVID-19 deaths and hospital admissions in Canada remain low relative to the first wave, both figures are beginning to creep up – a signal that the virus is spreading beyond the young people driving the surge.

Still, the situation in Canada remained far less dire than in the United States, where deaths surpassed 200,000 on Tuesday, and Britain, which has imposed new COVID-19 restrictions after a quadrupling of cases over the past month.

How many coronavirus cases are there in Canada, by province, and worldwide? The latest maps and charts

COVID-19 news: Updates and essential resources about the pandemic

Is my city going back into lockdown? A guide to COVID-19 rules across Canada

When it comes to what’s in store for Canada this fall, the public-health agency’s predicative modelling is not a crystal ball, said Caroline Colijn, a professor at Simon Fraser University and Canada 150 Research Chair in mathematics for evolution, infection and public health. She and her colleagues designed the model on which the agency’s latest forecast is based.

“[The models] are tools we use to help us understand the trajectory we’re on. Then we get to choose,” she said. “It’s like having a flashlight. If you see a cliff, you don’t just necessarily walk over it because the flashlight showed you it was there. You do something. You don’t walk over the cliff.”

Prime Minister Justin Trudeau is expected to re-emphasize the urgency of fighting COVID-19 in a television address that follows the Throne Speech on Wednesday.

The public-health agency made its latest forecast as Ontario and Quebec continued to account for the majority of new cases nationwide, and as Ottawa’s Medical Officer of Health, Vera Etches, announced she would charge fines as high as $5,000 a day to anyone who breaks an order to self-isolate.

Ottawa Public Health reported a record 93 cases on Tuesday while Ontario announced 478 cases, the most since May.

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“The goals in responding to the pandemic are to keep the level of COVID-19 transmission in the community from disrupting society in a detrimental way and to limit hospitalizations and deaths,” Dr. Etches told reporters. “This level we’re seeing is too high for these purposes. We need to bend the curve down right now.”

Dr. Etches said people who are testing positive are linked to schools – 34 in Ottawa have had at least one person test positive – and long-term care homes. Eleven of the 29 long-term care homes in Ontario where a COVID-19 outbreak has been declared are in Ottawa and its surrounding suburbs, according to the Ministry of Long-Term Care.

Dr. Etches has asked the Ottawa Hospital to temporarily take over management of two homes owned by Extendicare to get major outbreaks under control. At the for-profit chain operator’s Laurier Manor, a 242-bed home in the suburb of Gloucester, 25 residents have died of the virus. At West End Villa, another 242-bed home in Ottawa, 11 residents have died since an outbreak of COVID-19 was declared on Aug. 30.

Normally, the Ministry of Long-Term Care orders hospitals to assume management of troubled homes. But Dr. Etches said her office could move more quickly than the ministry. “We all agreed using an order like this is more expedient to get the support in right away,” she said.

Quebec, meanwhile, announced 489 new cases on Tuesday, a decline from the 586 it registered on Monday, but Health and Social Services Minister Christian Dubé said it was too soon to celebrate. On Tuesday, two new regions, Outaouais and Laval, were elevated to orange status, the second-highest tier in the province’s COVID-19 alert system, after a spike in cases and outbreaks.

The current wave of the pandemic is markedly different from the first, Mr. Dubé said. This time outbreaks are spread more widely among the province’s regions, rather than concentrated in Montreal, and more likely to involve young people. Cases are also being spread in the community at large, rather than being clustered in the long-term care homes that accounted for more than 80 per cent of Quebec’s COVID-19 deaths.

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In Ontario, Premier Doug Ford announced the first pillar of a broad six-point plan to prepare for a second wave of COVID-19: a flu immunization campaign. Mr. Ford said the province has ordered 5.1 million doses and is working to order more. “Anyone who wants a flu shot can get one,” Mr. Ford said. “Please, please make sure you get yours.”

He said the other elements of the fall plan, which are set to include expanding testing and contact tracing as well as reducing surgery backlogs, will be released over the next several days – a timeline that had the opposition accusing the government of being wildly unprepared.

Mr. Ford said given “the size and scope” of the plan, his government needed more time to roll it out.

As governments in Central Canada grappled with surging case counts, the federal government announced Tuesday that it had secured an agreement in principle for a fifth experimental coronavirus vaccine, a protein-based candidate developed by the pharmaceutical giants Sanofi and GlaxoSmithKline.

Anita Anand, the federal Minister of Public Services and Procurement, revealed for the first time that the government has committed about $1-billion in total to its five vaccine deals, some of it up-front. The remaining payouts will depend on whether any of the vaccines succeed in late-stage trials and win Health Canada approval.

Ms. Anand declined to provide specifics about deals with individual vaccine makers, citing confidentiality agreements and continuing negotiations with other companies.

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She also unveiled a deal with the maker of the antiviral drug remdesivir, the only medication officially approved to treat COVID-19, to bring 150,000 vials of the drug to Canada beginning next month.

With reports from Laura Stone and Eric Andrew-Gee

Canada’s chief public health officer, Dr. Theresa Tam, says there will be a dramatic resurgence of COVID-19 cases in Canada unless people limit contact with others in coming days. The Canadian Press

Sign up for the Coronavirus Update newsletter to read the day’s essential coronavirus news, features and explainers written by Globe reporters and editors.

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Ford Canada, Unifor reach tentative deal that includes $2B in EV contracts – CTV News

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TORONTO —
Ford Motor Company of Canada Ltd. has agreed to spend nearly $2 billion on its Canadian plants as part of tentative contract deal with Unifor announced Tuesday.

Under the proposed settlement, Unifor national president Jerry Dias said $1.95 billion will be invested in Ford’s Canadian plants, including $1.8 billion toward the production of five electric vehicles in Oakville, Ont., and an engine contract that could yield new jobs in Windsor, Ont.

The 6,300 union workers at Ford will vote on the deal this weekend, Dias said.

Talks between the union and the automaker came to a head on Monday ahead of a bargaining deadline of 11:59 p.m. ET, and talks continued for much of the night before parties settled on a deal around 5 a.m.

Workers had voted to support a strike if a deal could not be reached, with the future of the Oakville plant potentially on the line amid the end of the Ford Edge production.

The plant will now be retooled for electric vehicle production starting in 2024, Dias said, with the fifth and final model of the new deal hitting the assembly line in 2028.

Of the 4,250 Unifor workers at the plant west of Toronto, 3,400 are actively working (and not laid off or on leave.) Dias said he foresees about 3,000 jobs staying in Oakville under the new contract, but said that some of the current workers would be eligible to retire soon either way.

“This is a major commitment from Ford,” Dias said. “This is going to be a key facility, not for the short-term, but for the long-term … this is a decade-long commitment.”

Dias thanked local and federal politicians for support during the negotiations. When asked about government contribution toward electric vehicle production, Dias declined to confirm earlier news reports on the topic, saying the government will have to announce how much they plan to kick in.

Ontario Premier Doug Ford has said that the province is contributing a “massive amount” to “businesses like (Ford Canada) to bring battery manufacturing” to the province, but has not shared a specific amount, citing ongoing negotiations. John Power, spokesman for federal Industry Minister Navdeep Bains, also declined to say how much Ottawa could commit, saying only that electric vehicle production would help meet climate goals and create jobs.

“We have been talking for decades about having a national auto strategy in this country, and for some reason, we can never seem to get everybody in the room at the same time,” Dias said.

“Over the last several months, those walls have really been torn down … I’m really pleased to see that the federal government and provincial government are working hand in hand.”

Dias said that the provincial government’s negotiations encompass the complete, A-to-Z manufacturing of batteries – a process that still requires a major manufacturer. Unifor’s deal with Ford will encompass just the assembly stage of the manufacturing process.

Once agreed to by union members, Ford’s deal on new product lines, shifts, wages, pensions and benefits will set the tone for upcoming talks with Fiat Chrysler Automobiles and General Motors.

Dias said Fiat Chrysler will be next in line for negotiations, as the union plans to go toe-to-toe over shift cuts in Windsor and Brampton, Ont. facilities.

Although the last formal labour negotiations took place in 2016, the union has been in active scrimmages with GM since then, after last year’s downsizing at a GM plant in Oshawa, Ont.

In the U.S., GM’s union workers went on strike last year. Going forward, Dias said the Canadian and U.S. unions will negotiate with the Detroit Three on the same schedule, as both groups try to keep jobs from moving south to Mexico.

That means the 2020 deal will be renegotiated in 2023, amid the expiration of major programs in GM’s powertrain operation in St. Catharines, Ont.

Dias said Canadian natural resources, such as lithium, aluminum and cobalt, put the members in a strong position as more companies move toward electric vehicles.

“It’s an opportunity for our young people that work in Oakville, and frankly in Windsor, as well, and throughout the other operations, to sit back and say, `With this announcement I can buy a house, I can plan my future, I can plan a family,”’ Dias said.

“It really is about young people being able to plan 20 years ahead, which will make a significant difference in their life.”

This report by The Canadian Press was first published Sept. 22, 2020

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Tesla Announces Plan For $25,000 Car Within 3 Years – InsideEVs

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Tesla has just announced plans to get a $25,000 electric car into production within three years. The car does not yet have a name, though previous rumors suggested it could be called the Tesla Model C, with C standing for compact. Other hints suggest maybe Tesla Model 2 will be it’s name but that doesn’t make much sense to us.

This isn’t the first time a cheaper Tesla has been mentioned by Musk, but this is the first time we’ve been provided with a timeline for its launch. In 3 years implies that this car might be available in 2023.

Musk previously stated:

‘ It is important to make the car affordable. Like the thing that bugs me the most about where we are right now is that our cars are not affordable enough. We need to fix that. ‘

Earlier in July, Musk replied to a tweet specifically asking about a ‘ smaller European style hatchback ‘ by saying it would

‘ Probably a good one to design & engineer in Germany.‘

A $25,000 electric car would be a true game-changer and would push EVs into the mainstream for sure, especially when you consider lower operating costs and reduced maintenance costs as compared to conventional vehicles.

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