November 3, 2010 / 9:19 PM / 7 years ago

UPDATE 1-Sierra Wireless ekes out Q3 profit

* Q3 EPS $0.02, adjusted EPS $0.21

* Sees Q4 EPS $0.22-$0.24 on revenue of $170-$175 million (In U.S. dollars unless noted)

TORONTO, Nov 3 (Reuters) - Canadian mobile modem maker Sierra Wireless Inc SW.TO reported a third-quarter profit on Wednesday, boosted by revenue from its machine-to-machine communications products.

Sierra, whose products include AirCard USB modems and AirLink routers, had net income of $700,000, or 2 cents a share, on revenue of $172.7 million.

It earned 21 cents a share on an adjusted basis, excluding acquisition, restructuring and other costs.

Analysts, on average, were expecting earnings of 16 cents a share on revenue of $171 million, according to Thomson Reuters I/B/E/S.

In the year-before quarter, the company reported a loss of 25 cents a share on revenue of $135.7 million. Its adjusted earnings were 19 cents a share.

The Vancouver-based company said it expects adjusted earnings of between 22 cents and 24 cents a share in the current quarter on revenue of $170 million and $175 million.

Sierra, a major supplier to U.S. carriers Sprint Nextel Corp S.N and Clearwire Corp CLWR.O, had previously said it expected adjusted earnings of 15 to 17 cents a share in the third quarter and revenue between $168 million and $173 million.

Machine to machine revenue for the quarter was up 42 percent to $76.1 million.

Sierra reported its results after the close of trade on Wednesday. Its shares closed up 0.4 percent at C$12.27 on the Toronto Stock Exchange. The stock has jumped 70 percent since reporting better-than-expected second-quarter results in July and is up 10 percent since the start of the year. (Reporting by Alastair Sharp; editing by Peter Galloway)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below