Technology Industry
Industry: Email Alert RSS FeedSierra Wireless beats 3Q expectations.
RCR Wireless News, October, 2001
VANCOUVER, British Columbia--Sierra Wireless Inc. posted better than expected third-quarter numbers, noting the introduction of new products during the fourth quarter should help it contend with the current difficult economic conditions. The company reported revenue for the quarter of $12.8 million, down from the $15.1 million posted during the third quarter last year.
Sierra blamed the shortfall on the bankruptcy filling of Metricom Inc., which used Sierra PC cards, and lower demand. The reduced revenue also led to net earnings for the quarter dropping from a profit of $61,000 last year to a loss of $3.9 million this year, a loss of 24 cents per share. Sierra said earlier it expected third-quarter sales of around $12.5 million, down from previous...
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