SWIR - Sierra Wireless jumps 18% after easy earnings beat strong guidance

Sierra Wireless (NASDAQ:SWIR) is 18.4% higher today, tagging its highest point in six weeks, after it solidly beat revenue expectations in the fourth quarter and guided to robust outperformance in the current quarter. Its non-GAAP net income surprised with a gain vs. expectations that the company would lose $0.15/share on an adjusted basis. Revenues grew 24% year-over-year to $149.9 million, which the company credited to strong demand, realizing some previous inventory investments in a supply-constrained environment, and improving manufacturing flexibility with multi-factory production. EBITDA swung to a gain of $7.3 million, vs. a year-ago loss of $2.9 million. Gains were bolstered in its IoT Solutions unit, where revenues grew 28% to $104.5 million, though Enterprise Solutions revenue also gained 17% to $45.4 million. Revenue from connectivity, software and services was up 11% to $36.3 million, and monthly recurring revenue gained 10.5% to $11.6 million in December. Liquidity was $76.9 million

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Sierra Wireless jumps 18% after easy earnings beat, strong guidance