Sequans Communications Announces Preliminary Fourth Quarter 2018 and Full Year 2018 Financial Results
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Sequans Communications (SQNS) PT Lowered to $2 at Baird
February 20, 2019 8:55 AM ESTBaird analyst Tristan Gerra lowered the price target on Sequans Communications (NYSE: SQNS) to $2.00 (from $3.00) while maintaining a Outperform rating following 4Q. Pro forma EPS was ($0.10), somewhat below guidance of similar to 3Q EPS of ($0.08). Revenue of $6.1 million was down 41% sequentially and below guidance of... More
Sequans Communications (SQNS) Misses Q4 EPS by 2c, Revenues Miss
February 19, 2019 6:12 AM ESTSequans Communications (NYSE: SQNS) reported Q4 EPS of ($0.10), $0.02 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $6.1 million versus the consensus estimate of $10.39 million.
Revenue: Revenue was $6.1 million, a decrease of 41.0% compared to the third quarter of 2018, and a decrease of 46.3% compared to the fourth quarter of 2017, reflecting the need to work down channel inventory resulting from a weaker-than-expected broadband business and customer project delays. Revenue from IoT grew 70% in 2018, including CAT 1 chipset revenues which nearly tripled compared to 2017. The growth in IoT was not sufficient to offset... More