July 29, 2010 / 9:39 PM / in 8 years

UPDATE 1-Sierra Wireless posts better-than-expected Q2 results

* Q2 adj EPS $0.14 vs est $0.08

* Q2 rev rose rose 18 pct to $159.1 million

* Sees Q3 adj EPS in range of $0.15 to C$0.17

July 29 (Reuters) - Canada’s Sierra Wireless Inc (SW.TO) (SWIR.O) posted better-than-expected quarterly results, helped by higher demand for its machine-to-machine communications products, and forecast a strong third quarter.

For the third quarter, Sierra, which makes AirCard brand modems, said it expected adjusted earnings of 15 cents a share to 17 cents a share, on revenue of $168 million to $173 million.

Analysts on average were expecting earnings of 10 Canadian cents a share on revenue of $155.9 million, according to Thomson Reuters I/B/E/S.

For the second quarter, Sierra, posted net loss of $8.6 million or 28 cents a share, compared with net loss of $5.9 million or 19 cents, a year ago.

Excluding items, the company earned 14 cents a share, surpassing analysts average estimate of earnings of 8 cents a share.

Revenue for the quarter rose 18 percent to C$159.1 million. Analysts on average were expecting revenue of $156.6 million, according to Thomson Reuters I/B/E/S.

Machine to machine revenue for the quarter was up 53 percent to $83.6 million.

Shares of the company were closed at C$7.85 Thursday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Aradhana Aravindan)

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