|Over a month ago|
Sierra Wireless reports Q2 non-GAAP EPS (30c), consensus (35c) » 06:2308/0608/06/20
Reports Q2 revenue…
Reports Q2 revenue $144.1M, consensus $143.27M. "We continue to improve the company's operating efficiency and drive focus towards being the global leader in fully integrated IoT solutions, showcased by our recently announced divestiture in the embedded automobile business," said CEO Kent Thexton. "Despite a challenging environment given the COVID-19 pandemic, our Q2 results met our expectations and we are cautiously optimistic about the second half of the year as we are seeing some business improvements as we prepare for an upcoming launch of our new 5G embedded modules and routers." .
Sierra Wireless to divest automotive embedded product line for $165M » 17:4807/2307/23/20
Sierra Wireless announced…
Sierra Wireless announced a definitive agreement to divest its Shenzhen, China-based automotive embedded module product line for $165M in cash. The purchaser, Rolling Wireless, is a consortium led by Fibocom Wireless of Shenzhen. Sierra Wireless will continue to target key industrial and enterprise markets in North America, Europe and the APAC region. The divested product line is part of the Company's Embedded Broadband reporting segment. Sierra Wireless will exit automotive applications but will continue to invest in other product lines in its Embedded Broadband segment, specifically high-speed cellular modules typically used in Enterprise applications. The sale of the automotive product line includes approximately $19M of cash and is subject to normal working capital adjustments at closing. The revenue for the automotive product line in 2019 was $166M. No Canadian-based or U.S.-based employees, operations or assets will be transferred as part of this transaction. Sierra Wireless expects that approximately 150 of its employees will become employees of Rolling Wireless. The transaction is expected to close in Q4 subject to customary closing conditions.
|Over a quarter ago|
Fly Intel: After-Hours Movers » 19:2105/0705/07/20
INTU, YELP, PCTY, MDRX, OLED, CTSH, SWIR, TRIP, FISV, ACAD, STMP, TTD, MSI, ROKU, TDC, QLYS, LOPE, APPN, AVID, NET, HEAR, TRUE, ARWR, SVMK, GLUU, DBX, SAIL, UBER, GPRO, XNCR, KTOS, GH, IPHI, AAXN, SPWR, SKYW, HLF, PAR, CWH
Check out this evening's…
Sierra Wireless withdraws FY20 guidance » 16:4605/0705/07/20
"The impact of…
"The impact of COVID-19 pandemic on our global business remains uncertain," the company said. "While we continue to evaluate the effects of COVID-19 on our business, the overall severity and duration of adverse impacts related to COVID-19 on our business, financial condition, cash flows and/or results of operations for the second quarter 2020 and beyond cannot be reasonably estimated at this time. The ultimate size of the impact of the COVID-19 pandemic on our business will depend on future developments which cannot be currently predicted. Given the uncertainty surrounding the duration and magnitude of the COVID-19 pandemic, we are unable to provide a reliable outlook for the balance of 2020 and as a result are withdrawing our previous guidance for the Full Year 2020 Revenue and Adjusted EBITDA presented on February 13, 2020. We continue to believe that our products and solutions make us well-positioned to drive strong long-term growth in an expanding IoT industry when the global economy commences recovery from the ongoing COVID-19 crisis."
Sierra Wireless reports Q1 adjusted EPS (41c), consensus (19c) » 16:4505/0705/07/20
Reports Q1 revenue…
Reports Q1 revenue $157.6M, consensus $157.68M. "I'm very pleased with how well our global team at Sierra Wireless has responded to the COVID-19 situation and worked quickly to adjust to this challenging environment while focusing on delivering leading IoT solutions to our customers," said Kent Thexton, President and CEO. "Despite some pandemic-related supply chain disruptions, our Q1 revenue met our expectations and our recurring revenue win activity was robust in the First Quarter."
Sierra Wireless reaches agreement With shareholder Lion Point Capital » 16:4104/1604/16/20
Sierra Wireless has…
Sierra Wireless has entered into an agreement with Lion Point Capital, an investment firm which holds approximately 9.4% of Sierra Wireless' total shares outstanding, regarding the membership and composition of the Sierra Wireless Board of Directors and its committees, as well as certain customary standstill restrictions. Under the terms of the agreement, two incumbent directors, Paul Cataford and Joy Chik, will step down from the Board and two new independent directors, Jim Anderson and Karima Bawa, will be appointed to the Board, effective immediately. Additionally, subject to shareholder approval of a resolution at the 2020 Annual General Meeting to increase the maximum size of the Board, the Board will appoint two additional independent directors recommended by Lion Point and one independent director selected by the Board. These directors, Martin Mc Court, Mark Twaalfhoven and Raj Talluri, will be Board observers until their appointment to the Board shortly after the upcoming 2020 Annual General Meeting, currently scheduled for May 21st.
Sierra Wireless names Samuel Cochrane as CFO » 16:0604/1304/13/20
Sierra Wireless (SWIR)…
Sierra Wireless (SWIR) announced that Samuel Cochrane will join as CFO starting May 6th. Mr. Cochrane most recently served as a Vice President of Motorola Solutions Inc. (MSI) and before that as the CFO of Avigilon, which was acquired by Motorola in 2018. Mr. Cochrane will report directly to Kent Thexton, President and CEO.
Sierra Wireless chosen by Liveable Cities for smart city applications » 16:0803/1103/11/20
Sierra Wireless announced…
Sierra Wireless announced that Liveable Cities, a division of Canada-based LED Roadway Lighting, has selected Sierra Wireless' LPWA solution to enable smart city applications. Liveable Cities is using Sierra Wireless Ready-to-Connect HL78 modules for its SilQ Luminaire streetlight and the tool-less Sensor Platform ANSI Controller, which can add radar, pollution and noise sensors to transform any streetlight into a network that provides data to cities to help them reduce pollution and keep citizens safe. The Sierra Wireless LPWA solution connects sensors integrated in the Luminaire streetlight or TSP platform and securely transmits speed, pollution and noise data over cellular networks to Liveable Cities' SMARTLINX cloud platform for analysis. City planners can use the data to understand speed, pollution and acoustic patterns across the city, evaluate effectiveness of reduction measures over time and make informed decisions about where to deploy additional resources.
Roth Capital sees upside in Sierra Wireless after 2020 transition year » 11:5402/1402/14/20
Roth Capital analyst…
Roth Capital analyst Scott Searle maintained a Buy rating and $17 price target on Sierra Wireless (SWIR) following the company's "in-line" Q4 earnings report, which included a "muted" FY20 outlook. While the analyst is lowering his CY20 expectations due to continued headwinds, he noted that 2020 is a transition year, and he sees longer term upside due to the company's continued growth in enterprise solutions and recurring services. He kept his Buy rating on Sierra Wireless given the stock's current valuation.
Fly Intel: After Hours Movers » 18:4502/1302/13/20
EXPE, SVMK, DXCM, ROKU, GDDY, CC, MAT, NVDA, TNET, SPXC, FNF, NET, CARG, LPSN, TLND, ANET, SWIR, DDOG, YELP, CGNX, ARI, SWAV, AEM, AUY, PLSE
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Expedia (EXPE) up 10.2%... SVMK (SVMK) up 8.3%... DexCom (DXCM) up 6.2%... Roku (ROKU) up 5.7%... GoDaddy (GDDY) up 5.6%... Chemours (CC) Up 4.9%... Mattel (MAT) up 4.9%... Nvidia (NVDA) up 4.8%... TriNet (TNET) up 4.3%... SPX Corp (SPXC) up 3.0%... Fidelity National (FNF) up 2.1%... Cloudflare (NET) up 1.5%. DOWN AFTER EARNINGS: CarGurus (CARG) down 17.3%... LivePerson (LPSN) down 17.2%... Talend (TLND) down 12.8%... Arista Networks (ANET) down 9.9%... Sierra Wireless (SWIR) down 6.7%... Datadog (DDOG) down 5.2%... Yelp (YELP) down 5.1%... Cognex Corp (CGNX) down 4.6%... Apollo Commercial Real Estate (ARI) down 4.4%... ShockWave Medical (SWAV) down 2.6%... Agnico Eagle (AEM) down 1.5%... Yamana Gold (AUY) down 1.0%. ALSO LOWER: Pulse Biosciences (PLSE) down 20.4% after disclosing "Not Substantially Equivalent" letter on its CellFX system from FDA. Movers as of 18:30ET.