VANCOUVER - Sierra Wireless Inc. (TSX:SW) said Thursday it lost US$8.6 million in its second quarter as revenue grew by nearly 20 per cent.
VANCOUVER - Sierra Wireless Inc. (TSX:SW) said Thursday it lost US$8.6 million in its second quarter as revenue grew by nearly 20 per cent.
The wireless hardware company said the loss amounted to 28 cents per share for the quarter ended June 30 compared with a loss of $6.5 million or 19 cents per share a year ago.
Revenue totalled $159.1 million, up from $135.3 million.
"Strong, broad based demand, combined with lower operating expenses, enabled us to deliver record quarterly revenue and better than expected earnings, despite industry wide component supply constraints," president and chief executive Jason Cohenour said in a statement.
In its outlook for the third quarter, Sierra Wireless said it expected revenue between $168 million and $173 million and earnings between $4.5 million and $5.4 million or 15 to 17 cents per share.
Sierra Wireless makes modems and software used to connect laptops and other devices to mobile networks.
Shares in the company, which reported after markets closed Thursday, were up 37 cents at C$7.85 on the Toronto Stock Exchange.