May 4, 2011 / 9:55 PM / 7 years ago

UPDATE 1-Sierra Wireless Q1 loss widens, rev down 5 pct

* Q1 rev drops 5 pct to $144.3 mln

* Sees Q2 revenue of $140-$145 mln

* Sees Q2 loss/shr of $0.12-$0.07 (Follows alerts)

May 4 (Reuters) - Mobile modem maker Sierra Wireless Inc posted a wider quarterly loss, hurt by an 18-percent drop in revenue from its machine-to-machine segment, and said it expects second-quarter revenue to remain relatively flat sequentially.

The company said it expects the Japanese earthquake to hurt its second-quarter revenue by about $2 million and forecast a loss of $0.12-$0.07 a share for the quarter. It expects revenue of $140-$145 million.

For the January-March quarter, Sierra which makes AirCard brand modems, posted a net loss of $7.8 million, or 25 cents a share, compared with a net loss of $7.5 million, or 24 cents a share, a year ago.

Revenue fell 5 percent to $144.3 million. Machine-to-machine revenue fell 18 percent to $72.7 million.

Shares of the Vancouver-based company closed at C$10.55 Wednesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Jarshad Kakkrakandy)

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