Sierra Wireless Earnings: Here’s Why Investors are Selling Shares Now

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Sierra Wireless Inc. (NASDAQ:SWIR) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.36%.

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Sierra Wireless Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.16 in the year-earlier quarter.

Revenue: Decreased 32.52% to $101.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Sierra Wireless Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.05. It beat the average revenue estimate of $100.05 million.

Quoting Management: “We experienced solid year-over-year revenue growth in the quarter, powered by a strong contribution from the acquired Sagemcom M2M business,” said Jason Cohenour, President and Chief Executive Officer. “A major focus in the quarter was completing the sale of our AirCard® assets and operations to Netgear, which was accomplished in early April. We are now an M2M pure play, with leading global market share, the industry’s broadest product line, and blue-chip customers. Moreover, we now have significant financial capacity to accelerate growth and value creation through acquisitions, as we capitalize on the secular growth opportunity in M2M.”

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