Sequans Communications (SQNS) Misses Q3 EPS by 1c, Revenues Miss

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Sequans Communications Announces Third Quarter 2018 Financial Results and $18 Million in Additional Debt Financing

October 30, 2018 6:00 AM EDT

PARIS--(BUSINESS WIRE)-- 4G chipmaker Sequans Communications S.A. (NYSE: SQNS) today announced financial results for the third quarter ended Sept. 30, 2018 and the closing of $18 million in additional debt financing subsequent to the end of the third quarter.

Third Quarter 2018 Highlights:

Revenue: Revenue was $10.3 million, a decrease of 18.7% compared to the second quarter of 2018, primarily due to a 24% sequential decline in product revenue, as a result of a delay in the ramp of LTE-M revenues, and a decrease of 9.0% compared to the third quarter of 2017, reflecting significantly... More