Sierra Wireless (SWIR) Reports In-Line Q1 EPS, Revenues Beat

Sierra Wireless (NASDAQ: SWIR) reported Q1 EPS of ($0.26), in-line with the analyst estimate of ($0.26). Revenue for the quarter came in at $108.1 million versus the consensus estimate of $107.22 million.

“Total revenue in the first quarter was $108.1 million, up 4.9% year over year and our Connectivity, Software, and Services revenue was $33.7 million, up 26% year over year. We have done well managing costs despite a tight supply chain environment and we lowered our operating expenses sequentially in the first quarter,” said Kent Thexton, President and CEO of Sierra Wireless. “Demand for our Internet of Things ("IoT") products and gateways remains strong with Q1 orders up over 30% year over year, and we are working closely with all our supply chain partners to build and ship our products to our customers. The requirement for real-time monitoring of assets and advanced edge processing is growing in importance as more industrial and enterprise companies are digitizing their assets. With our IoT devices, connectivity service and edge-to-cloud tools, Sierra Wireless is the trusted supplier for IoT solutions.”

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

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