This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sierra Wireless Reports Fourth Quarter And Full Year 2013 Results

Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW):

Q4 highlights from continuing operations
  • Record revenue of $118.6 million, up 5.7% compared to Q3, 2013
  • Adjusted EBITDA of $6.2 million, compared to $5.9 million in Q3, 2013
  • Non-GAAP earnings from operations of $2.6 million, compared to $2.4 million in Q3, 2013

Full year highlights from continuing operations
  • Record revenue of $441.9 million, up 11.2% year-over-year
  • Adjusted EBITDA of $18.7 million, up 47.9% year-over-year
  • Non-GAAP earnings from operations of $5.0 million, compared to $0.9 million in 2012

Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) today reported results for its fourth quarter and full year, ending December 31, 2013. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (GAAP), except as otherwise indicated below.

“We achieved record revenue in the fourth quarter, closing out a year in which we delivered solid operational results, sold our AirCard business, and began putting the proceeds to work on acquisitions that extend our leadership position in M2M,” said Jason Cohenour, President and Chief Executive Officer. “We are exceptionally well positioned to capture the long-term M2M growth opportunity, and we are focused on continuing to drive profitable organic revenue growth, while we pursue additional acquisitions.”

As a result of the sale of the AirCard business, as well as our recent acquisition of the AnyDATA M2M business and our contemplated acquisition of In Motion Technology, our segments have changed from those reported at December 31, 2012. We are now reporting two segments, OEM Solutions and Enterprise Solutions, and all prior periods have been retrospectively adjusted to reflect the two segments.

Q4 2013

Revenue for the fourth quarter of 2013 was $118.6 million, an increase of 8.4% compared to $109.4 million in the fourth quarter of 2012, and an increase of 5.7% compared to $112.3 million in the third quarter of 2013. Revenue from OEM Solutions was $101.8 million in the fourth quarter of 2013, up 7.4% compared to $94.9 million in the fourth quarter of 2012. Revenue from Enterprise Solutions was $16.8 million in the fourth quarter of 2013, up 15.3% compared to $14.5 million in the fourth quarter of 2012.

1 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SYM TRADE IT LAST %CHG
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%

Markets

Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs