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TheStreet Open House

Sierra Wireless Reports Second Quarter 2012 Results

Stocks in this article: SWIR

SIERRA WIRELESS, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands of U.S. dollars)

(unaudited)

  June 30,   December 31,
  2012 2011
Assets

Current assets

Cash and cash equivalents $ 123,159 $ 101,375
Short-term investments 2,153 9,347
Accounts receivable, net of allowance for

doubtful accounts of $2,477 (2011 - $3,642)

111,223

107,367

Inventories 15,157 16,168
Deferred income taxes 8,075 6,540
Prepaids and other 23,579 20,674
283,346 261,471
Property, plant and equipment 24,394 22,087
Intangible assets 35,517 42,557
Goodwill 89,345 89,961
Deferred income taxes 6,205 6,205
Other assets 592 606
  $ 439,399 $ 422,887
Liabilities

Current liabilities

Accounts payable and accrued liabilities $ 144,518 $ 123,547
Deferred income taxes 336
Deferred revenue and credits 1,059 1,721
145,577 125,604
Long-term obligations 24,314 25,143
Deferred income taxes 236 236
  170,127 150,983
Equity
Shareholders’ equity
Common stock: no par value; unlimited shares authorized; issued

and outstanding: 30,562,076 shares (December 31, 2011 - 31,306,692 shares)

322,521 328,440
Preferred stock: no par value; unlimited shares authorized;

issued and outstanding: nil shares

Treasury stock: at cost 725,555 shares (December 31, 2011 – 877,559 shares) (5,238) (6,141)
Additional paid-in capital 19,886 20,087
Deficit (58,556) (62,482)
Accumulated other comprehensive loss (9,341) (8,000)
  269,272 271,904
  $ 439,399 $ 422,887




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