Sierra Wireless Inc. (SWIR,SW.TO) Thursday reported first-quarter net earnings of $0.3 million or $0.01 per share, compared to net loss of $7.8 million or $0.25 per share in the first quarter of last year.
Adjusted net earnings for the quarter were $5.0 million or $0.16 per share, compared to a net loss of $2.4 million or $0.08 per share in the first quarter of last year. On average, analysts polled by Thomson Reuters expected earnings of $0.07 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenues for the first quarter grew 4 percent to $150.3 million from $144.3 million in the first quarter last year, driven mainly by growth in both M2M and Mobile Computing lines of business. Analysts estimated revenues of $145.75 million for the quarter.
Gross margins improved to 29.8 percent from 27.4 percent last year.
Looking forward to the second quarter, the company expects adjusted earnings of $0.18 to $0.21 per share, and revenues of $157 million to $162 million. Analysts currently estimates earnings of $0.13 per share on revenues of $153.25 million.
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