August 2, 2012 / 9:24 PM / 6 years ago

Sierra Wireless posts profit as mobile computing sales rise

Aug 2 (Reuters) - Canada’s Sierra Wireless Inc posted a second-quarter profit, aided by strong sales at its mobile computing division and a recent acquisition.

Sierra, which entered into a deal to buy machine-to-machine (M2M) assets from France’s Sagemcom in June, gets roughly half its revenue from M2M, while the other half is from the sales of mobile modems and other components used in smartphones, tablets and laptop computers.

Sierra said net income was $3.6 million, or 11 cents per share, in the second quarter, compared with a loss of $6.8 million, or 22 cents per share, a year ago.

On an adjusted basis, net income was 30 cents a share.

Revenue rose 20 percent to $167.4 million.

Mobile computing revenue rose to $89.9 million from $66.0 million a year earlier.

The company’s shares closed at C$9.47 on Thursday on the Toronto Stock Exchange.

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