RICHMOND, B.C. – RICHMOND, British Columbia (AP) _ Sierra Wireless Inc. (SWIR) on Thursday reported a loss of $383,000 in its fourth quarter.
On a per-share basis, the Richmond, British Columbia-based company said it had a loss of 1 cent. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The wireless broadband modem maker posted revenue of $144.8 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $149.9 million.
For the year, the company reported that its loss narrowed to $2.7 million, or 8 cents per share. Revenue was reported as $607.8 million.
For the current quarter ending in April, Sierra Wireless said it expects revenue in the range of $135 million to $145 million.
The company expects full-year earnings in the range of 60 cents to 90 cents per share, with revenue ranging from $630 million to $670 million.
Sierra Wireless shares have declined roughly 7 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.69, a decrease of 63 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWIR at http://www.zacks.com/ap/SWIR
Keywords: Sierra Wireless, Earnings Report