* Adjusted EPS $0.09; analysts were expecting $0.18
* Revenue up 8.3 percent at $144 million (In U.S. dollars unless noted)
Sierra, which makes the AirCard line of wireless modems, said it lost a net $2.7 million, or 9 cents a share, in its fourth quarter. That was down from a profit of $34.7 million, or $1.12 a share, a year earlier, when its results included $18.4 million in unrealized foreign exchange gains as well as a $6.5 million tax benefit.
Adjusted to exclude special items such as restructuring costs, stock-based compensation expenses and tax adjustments, Sierra said it earned 9 cents a share.
Analysts, on average, had expected the company to report adjusted earnings of 18 cents a share on revenue of $144.6 million, according to Thomson Reuters I/B/E/S.
Revenue came in at $144 million, up 8.3 percent from $133 million a year earlier.
Sierra said its sales and marketing expenses rose to $14.6 million from $8.2 million a year ago. R&D costs increased to $20.2 million from $13.2 million.
For the current, first quarter, Sierra forecast revenue of $150 million and adjusted earnings of 11 cents a share.
Sierra reported its results after markets closed. Its shares closed down 10 Canadian cents at C$12.47 on the Toronto Stock Exchange on Wednesday. ($1=$1.06 Canadian) (Reporting by John McCrank; editing by Peter Galloway)