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Sierra Wireless reports 1Q loss

RICHMOND, British Columbia (AP) _ Sierra Wireless Inc. (SWIR) on Thursday reported a first-quarter loss of $211,000, after reporting a profit in the same period a year earlier.

On a per-share basis, the Richmond, British Columbia-based company said it had a loss of 1 cent. Earnings, adjusted for one-time gains and costs, came to 24 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The wireless broadband modem maker posted revenue of $161.8 million in the period.

For the current quarter ending in July, Sierra Wireless expects its per-share earnings to range from 24 cents to 32 cents.

The company said it expects revenue in the range of $165 million to $175 million for the fiscal second quarter.

Sierra Wireless shares have increased 58 percent since the beginning of the year. The stock has climbed 66 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWIR at https://www.zacks.com/ap/SWIR


Keywords: Sierra Wireless, Earnings Report