August 4, 2011 / 9:48 PM / in 7 years

UPDATE 1-Sierra Wireless Q2 loss narrower than expected; shares up

* Q2 rev down 12 pct at $139.9 mln

* Sees Q3 rev $150-$155 mln

* Sees Q3 EPS $0.03-$0.05

* U.S.-listed shares up 9 pct in extended trading

Aug 4 (Reuters) - Canada’s Sierra Wireless reported a narrower-than-expected quarterly loss, and said it expects third-quarter revenue to improve as it launches new products for Canada’s expanding 4G network.

U.S.-listed shares of the Vancouver-based company were up 9 percent in extended trading. They closed at $8.98 on Thursday on Nasdaq.

For the third quarter, Sierra, which makes mobile modems, expects revenue of $150-$155 million and earnings of 3-5 cents a share.

Analysts on average were expecting earnings of 15 cents per share on revenue of $169.3 million, according to Thomson Reuters I/B/E/S.

Second quarter net loss was $6.8 million, or 22 cents per share, compared with $8.6 million, or 28 cents per share, a year ago. On an adjusted basis, the net loss was 3 cents a share.

Revenue fell 12 percent to $139.9 million. Sierra said the revenue decline was mainly due to the loss of business from Barnes & Noble and Clearwire Corp .

For the quarter, analysts had expected a loss of 10 cents per share on revenue of $142.5 million. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Maju Samuel)

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