May 3, 2012 / 9:09 PM / 6 years ago

UPDATE 1-Sierra Wireless posts profit on improved gross margins

May 3 (Reuters) - Mobile modem maker Sierra Wireless Inc posted a first-quarter profit, helped in part by higher gross margins and increased strength at its mobile computing unit.

For the second quarter, the company expects to earn 18 cents to 21 cents per share, and revenue of $157 million to $162 million.

For the January-March quarter, the company earned $345,000, or 1 cent per share, compared with a loss of $7.8 million, or 25 cents per share, a year ago.

Revenue rose 4 percent to $150.3 million.

Quarterly gross margins were $44.8 million, or 29.8 percent, compared with $39.5 million, or 27.4 percent, a year ago.

Revenue from the mobile computing unit was $73.3 million, up 3 percent compared with $71.6 million a year ago.

Shares of the company, which has a market value of $215 million, closed at C$6.98 on Thursday on the Toronto Stock Exchange.

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