Sierra Wireless: 2Q Earnings Snapshot
RICHMOND, British Columbia (AP) _ Sierra Wireless Inc. (SWIR) on Wednesday reported a loss of $28.2 million in its second quarter.
The Richmond, British Columbia-based company said it had a loss of 78 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to 7 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The wireless broadband modem maker posted revenue of $191.4 million in the period.
Sierra Wireless shares have fallen 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.78, a drop of 28% in the last 12 months.