Revlis wireless

[Goodbuddy4863]

Sierra Wireless Delivers a Solid Beat:

https://www.fool.com/investing/2017/02/10/sierra-wireless-delivers-a-solid-beat.aspx?source=yahoo-2-news&utm_campaign=article&utm_medium=feed&utm_source=yahoo-2-news&yptr=yahoo

What happened with Sierra Wireless this quarter?
On an adjusted basis, which adds perspective by excluding items like stock-based compensation and acquisition expenses, Sierra Wireless' net income was $8.8 million, or $0.27 per share, up from $2.5 million, or $0.08 per share in the same year-ago period.

By comparison, Sierra Wireless' latest guidance called for revenue of $157 million to $166 million and adjusted earnings per share of $0.13 to $0.19.

On a segment basis:
OEM solutions revenue grew 11.2% year over year, to $163 million, as demand normalized as expected with key existing customers and programs, and new programs continued to ramp.

Enterprise solutions revenue grew 27.1% year over year, to $21 million, including the first full quarter of contributions from GenX, which was acquired last August. The enterprise team also won deals during the quarter in "several of its key targeted segments."

Cloud and connectivity services revenue was flat on a year-over-year basis, at $6.8 million, primarily including recurring service contracts, but climbed modestly year over year on a constant currency basis.
Adjusted earnings before interest, taxes, depreciation, and amortization increased 146% year over year, to $15.5 million.

Based on generally accepted accounting principles (GAAP), gross margin in the fourth quarter was 42.2%, up from 31.1% in the same year-ago period primarily due to a favorable $14.4 million reduction in cost of goods sold resulting from a change in estimate of Sierra Wireless' IP royalty obligations.

Adjusted (non-GAAP) gross margin was 34.3%, up from 31.2% in the fourth quarter of 2015.

Ended the year with cash and equivalents of $102.8 million, down $9.2 million from the end of Q3 due to a combination of capital expenditures, the completion of Sierra Wireless' Blue Creation acquisition in November, and share repurchases.

Integration of Blue Creation is under way, and Sierra Wireless has already begun introducing Blue Creation products to select customers and channels.

Sierra Wireless won its second 4G connected car program with Volkswagen.
Enjoyed the strongest design win momentum of the year in the fourth quarter for the cloud and connectivity segment, including strong momentum in business unit deal collaboration; 50% of cloud and connectivity wins originated in either the OEM or enterprise business units.





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