SWIR - Sierra Wireless gains following earnings beat in line outlook

Sierra Wireless (NASDAQ:SWIR) up over 5% after yesterday's third-quarter results beat top and bottom-line (adjusted) estimates. Revenue fell 27% on the year to $82.5M, above the consensus of $77.8M. Adjusted EPS topped estimates by $0.15. "The decrease in revenue was due to the reduction in hardware sales due to manufacturing capacity constraints in Vietnam as a result of COVID-19 related restrictions." Adjusted EBITDA* loss was $15.0M in the third quarter of 2021 compared to a loss of $7.1M a year ago. Gross margin was 29.3% in the third quarter of 2021 compared to 34.8% in last year's quarter. Cash and cash equivalents and restricted cash at the end of the third quarter of 2021 were $75.5M. In guidance, the company warns of ongoing low visibility from the COVID-19 pandemic, and says for Q4, it expects revenue between $120-$135M vs. the consensus of $121.8M. Previously (Nov. 9): Sierra Wireless EPS beats by $0.15,

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Sierra Wireless gains following earnings beat, in line outlook