Sierra Wireless: 3Q Earnings Snapshot
RICHMOND, British Columbia (AP) _ Sierra Wireless Inc. (SWIR) on Tuesday reported a loss of $20.2 million in its third quarter.
On a per-share basis, the Richmond, British Columbia-based company said it had a loss of 56 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 3 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The wireless broadband modem maker posted revenue of $174 million in the period.
Sierra Wireless expects full-year revenue in the range of $708 million to $712 million.
Sierra Wireless shares have fallen 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.28, a fall of 39% in the last 12 months.