Sierra Wireless (SWIR) Misses Q3 EPS by 2c, Q4 Guidance Falls Short of Consensus

Sierra Wireless (NASDAQ: SWIR) reported Q3 EPS of $0.23, $0.02 worse than the analyst estimate of $0.25. Revenue for the quarter came in at $154.6 million versus the consensus estimate of $158.73 million.

Sierra Wireless sees Q4 2015 EPS of $0.09-$0.11, versus the consensus of $0.29. Sierra Wireless sees Q4 2015 revenue of $148-151 million, versus the consensus of $165.23 million.

In the fourth quarter of 2015, compared to the third quarter of 2015, we expect revenue to be down slightly, primarily reflecting a short term situation with an Automotive customer. We expect gross margin percentage to be slightly lower, resulting from a higher cost end of life component used in some of our legacy OEM products; and operating expenses to increase slightly, driven by targeted investment in Sales and R&D. This results in the following non-GAAP guidance for the fourth quarter of 2015:

For earnings history and earnings-related data on Sierra Wireless (SWIR) click here.

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