These statements are based on management's current beliefs and assumptions, which could prove to be significantly incorrect. On January 7, 2020, we completed the acquisition of M2M group of companies ("M2M Group") in Australia. We also use non-GAAP earnings from operations as one component in determining short-term incentive compensation for management employees. Net loss was $10.9 million, or $0.30 per diluted share, in the fourth quarter of 2019 compared $3.8 million, or $0.11 per diluted share, in the fourth quarter of 2018. Gross margin was $51.4 million, or 29.5% of revenue, in the fourth quarter of 2019 compared to $65.9 million, or 32.7% of revenue, in the fourth quarter of 2018. Sierra Wireless, which belongs to the Zacks Wireless Equipment industry, posted revenues of $191.37 million for the quarter ended June 2019, surpassing the Zacks Consensus Estimate by 0.75%. We expect the transaction to close early in January 2020, subject to the satisfaction of customary closing conditions. This non-GAAP guidance constitutes "forward-looking statements" within the meaning of applicable securities laws and reflects current business indicators and expectations. Net loss was $2.9 million, or $0.08 per diluted share, in the fourth quarter of 2019 compared to net earnings of $9.0 million, or $0.25 per diluted share, in the fourth quarter of 2018. Sierra Wireless has more than 1,300 employees globally and operates R&D centers in North America, Europe and Asia. Sierra Wireless' (NASDAQ:SWIR) stock recently tumbled after the maker of M2M (machine-to-machine) modules and gateways posted a mixed fourth-quarter report. [email protected], Investor Contact: Adjusted EBITDA is a metric used by investors and analysts for valuation purposes and is an important indicator of our operating performance and our ability to generate liquidity through operating cash flow that will fund future working capital needs and fund future capital expenditures. Operating expenses were $54.0 million and loss from operations was $2.7 million in the fourth quarter of 2019 compared to operating expenses of $55.7 million and earnings from operations of $10.2 million in the fourth quarter of 2018. To participate in this conference call, please dial the following number approximately ten minutes prior to the start of the call: To access the webcast, please follow the link below: Sierra Wireless Q3 2019 Conference Call and Webcast. Non-GAAP income tax expense includes certain tax adjustments and taxes on acquisition-related amortization, acquisition-related and integration costs, restructuring costs, other non-recurring costs and foreign exchange. Sierra doesn't disclose that exact figure separately right now, but its total "subscription, support, and other" revenue hit $72.6 million in the first nine months of 2019. The purchase price of $19.8 million is based on cash consideration of $18.8 million for 100% of the equity plus approximately $1.0 million for the retirement of certain obligations, subject to normal working capital adjustments. Readers are cautioned that non-GAAP financial measures do not have any standardized meaning prescribed by U.S. GAAP and therefore may not be comparable to similar measures presented by other companies. Revenue for the second quarter of 2019 was $191.4 million compared to $201.9 million in the second quarter of 2018. Annual stock financials by MarketWatch. We adopted the new accounting standard for lease accounting (ASC 842) effective January 1, 2019. Revenue for the fourth quarter of 2019 was $174.3 million compared to $201.4 million in the fourth quarter of 2018. Les perturbations de la chaîne d’approvisionnement dues au blocage économique pour lutter contre COVID-19, combinées à la baisse de certains secteurs d’activité hérités, ont comploté contre l’entreprise et entraîné une nouvelle baisse des revenus. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (GAAP), except as otherwise indicated below. We caution you that forward-looking statements may not be appropriate for other purposes. Sierra Wireless, Inc., together with its subsidiaries, provides device-to-cloud Internet Of Things (IoT) solutions primarily in North America, Europe, and the Asia Pacific. VANCOUVER, British Columbia--(BUSINESS WIRE)--Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today reported results for its third quarter ended September 30, 2019. Are not promises or guarantees of future performance. We use the above-noted non-GAAP financial measures for planning purposes and to allow us to assess the performance of our business before including the impacts of the items noted above as they affect the comparability of our financial results. Our non-GAAP financial measures include non-GAAP gross margin, non-GAAP earnings (loss) from operations, non-GAAP net earnings (loss), non-GAAP basic and diluted net earnings (loss) per share, adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), and free cash flow. •We generated ~$90 million in LTARR (Long Term Annual Recurring Revenue) in 2019 which is defined as est. Revenue for the second quarter of 2019 was $191.4 million compared to […] Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. +1 (604) 231-1137 Sierra Wireless (SWIR) delivered earnings and revenue surprises of -66.67% and -9.22%, respectively, for the quarter ended September 2019. Forward-looking statements, particularly those that relate to longer periods of time, are subject to substantial known and unknown risks and uncertainties that could cause actual events or results to differ significantly from those expressed or implied by our forward-looking statements, including those described in our regulatory filings. We launched market leading IoT solutions like our Octave product, increased our IoT connections by more than 400,000 and ended 2019 with 3.6 million global connections. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE EARNINGS (LOSS), (In thousands of U.S. dollars, except where otherwise stated), Foreign currency translation adjustments, net of taxes of $nil, Weighted average number of shares outstanding (in thousands), Common stock: no par value; unlimited shares authorized; issued and, outstanding: 336,233,361 shares (December 31, 2018 – 36,067,415 shares). Questions and Answers. Adjusted EBITDA is a metric used by investors and analysts for valuation purposes and is an important indicator of our operating performance and our ability to generate liquidity through operating cash flow that will fund future working capital needs and fund future capital expenditures. Product revenue was $614.4 million, down 12.1% year-over-year, and recurring and other services revenue was $99.1 million, up 5.0% compared to 2018. “We had a record quarter in new recurring services wins and our services pipeline is growing. Are not promises or guarantees of future performance. Revenue for the third quarter 2019 was $174 million compared with $203.4 million in the third quarter of 2018. Certain statements and information in this press release are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. “We continue to make strong progress on our transformation to an integrated IoT Solutions company,” said Kent Thexton, President and CEO. Product revenue was $614.4 million, down 12.1% … Adjusted EBITDA is defined as net earnings (loss) plus stock-based compensation expense and related social taxes, acquisition-related and integration costs, restructuring cost, impairment, certain other nonrecurring costs or recoveries, amortization, foreign exchange gains or losses on translation of certain balance sheet accounts, unrealized foreign exchange gains or losses on forward contracts, interest and income tax expense. [email protected]. Total cash consideration paid to the shareholders of M2M Group was $19.6 million for 100% of the equity plus approximately $1.1 million for the retirement of certain obligations, subject to normal working capital adjustments. +1 (604) 231-1181 We are seeing strong customer demand for our bundled solutions and increasing design wins in the growing IoT market.”. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE EARNINGS (LOSS), (In thousands of U.S. dollars, except where otherwise stated), Foreign currency translation adjustments, net of taxes of $nil, Weighted average number of shares outstanding (in thousands), Accounts receivable, net of allowance for doubtful accounts of $3,561 Toll-free (Canada and US): 1-877-201-0168. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (GAAP), except as otherwise indicated below. David Climie These risk factors and others are discussed in our Annual Information Form and Management's Discussion and Analysis of Financial Condition and Results of Operations, which may be found on SEDAR at. Within the IoT Solutions segment, excluding iTank, recurring and other services revenue was up $6.8 million, or 7.4%, and (ii) Revenue from Embedded Broadband was $335.7 million in 2019, down 20.0% compared to $419.7 million in 2018 primarily due to weaker demand from mobile computing and networking customers as we complete certain programs with these customers, partially offset by slightly higher revenue from automotive customers. Richmond, BC, August 2, 2019--Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) reported results for its second quarter ended June 30, 2019. Non-GAAP gross margin excludes the impact of stock-based compensation expense and related social taxes and certain other nonrecurring costs or recoveries. The decrease in cash was mainly due to working capital and capital expenditure requirements, partially offset by sale of receivables under our receivables purchase program and proceeds from sale of an investment. If the above link does not work, please copy and paste the following URL into your browser: https://onlinexperiences.com/Launch/QReg/ShowUUID=6A859656-86AC-4DE6-B78C-EDF604BF628D. We announced just over a year ago our strategy […] Many factors could cause our actual results, achievements and developments in our business to differ significantly from those expressed or implied by our forward-looking statements, including without limitation, the following factors. Chief Financial Officer The increase in cash was primarily due to cash flow from operating activities, partially offset by capital expenditures. Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is is the leading IoT solutions provider that combines devices, network and software to unlock value in the connected economy. Sierra Wireless has more than 1,300 employees globally and operates R&D centers in North America, Europe and Asia. Do the numbers hold clues to what lies ahead for the stock? Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support This segment of the business has been growing rapidly over the last several years. Export Data Save Image Print Image For advanced charting, view our full-featured Fundamental Chart. Sierra Wireless (SWIR) delivered earnings and revenue surprises of 66.67% and 0.56%, respectively, for the quarter ended March 2019. VANCOUVER, British Columbia — Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today reported results for its fourth quarter and fiscal year ended December 31, 20 All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (GAAP), except as otherwise indicated below. Article content. These risk factors and others are discussed in our Annual Information Form and Management's Discussion and Analysis of Financial Condition and Results of Operations, which may be found on SEDAR at. Que faire avec les titres de Gildan, Power Corp. et Sierra Wireless? Sierra Wireless will demonstrate Octave at the seventh annual Sierra Wireless Innovation Summit, October 23-24, 2019, at the Paris Novotel Tour Eiffel. Adjusted EBITDA is defined as net earnings (loss) plus stock-based compensation expense and related social taxes, acquisition-related and integration costs, restructuring cost, impairment, certain other non-recurring costs or recoveries, amortization, foreign exchange gains or losses on translation of certain balance sheet accounts, unrealized foreign exchange gains or losses on forward contracts, interest and income tax expense. Forward-looking statements are provided to help you understand our views of our short and long term plans, expectations and prospects. Product revenue, … Contents: Prepared Remarks. Sierra Wireless Revenue (TTM): 697.28M for March 31, 2020. Sierra Wireless is an IoT pioneer, empowering businesses and industries to transform and thrive in the connected economy. Our fourth quarter and full year 2019 financial results reflect the adoption of this new standard. Other product or service names mentioned herein may be the trademarks of their respective owners. They represent our current views and may change significantly. Cautionary Note Regarding Forward-Looking Statements. Hear from customers, analysts, developers and business leaders who are developing Industrial IoT solutions based on Octave that create new revenue streams and business models. See insights on Sierra Wireless including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. We also use non-GAAP earnings from operations as one component in determining short-term incentive compensation for management employees. Within the IoT Solutions segment, excluding iTank (which was sold at the end of 2018), recurring and other services revenue was up 16.3% in the fourth quarter of 2019 compared to the same period of 2018; and (ii) Revenue from Embedded Broadband was $83.4 million in the fourth quarter of 2019, down 21.1%, compared to $105.7 million in the fourth quarter of 2018 due to weaker sales to mobile computing and networking customers, offset by a modest increase in sales to automotive customers. Revenue for the third quarter of 2019 was $174.0 million compared to $203.4 million in the third quarter of 2018. “We announced just over a year ago our strategy to transform from a hardware-focused IoT company to delivering full IoT solutions with recurring revenue attached to our market leading IoT devices. View the latest SWIR financial statements, income statements and financial ratios. Sierra Wireless Inc (NASDAQ: SWIR) Q2 2019 Earnings Call Jul 31, 2019, 5:30 p.m. We adopted the new accounting standard for lease accounting (ASC 842) effective January 1, 2019. The webcast will remain available at the above link for one year following the call. View 4,000+ financial data types. Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") were $2.3 million in the fourth quarter of 2019 compared to $15.3 million in the fourth quarter of 2018. For more information, visit www.sierrawireless.com. Moving to results for the first quarter. Companies globally are adopting IoT to improve operational efficiency, create better customer experiences, improve their business models and create new revenue streams. Gross margin was 30.9% in 2019 compared to 33.4% in 2018. Sierra Wireless President and CEO, Kent Thexton, and CFO, David McLennan, will host a conference call and webcast with analysts and investors to review the results on Tuesday November 5, 2019, at 5:30 PM Eastern time (2:30 PM Pacific time). Subscription, support and other services revenue in the third quarter was $24.6 million, representing 14% of consolidated revenue and Product revenue was $149.4 million, representing 86% of consolidated revenue. Browse... View Full Chart Revenue (TTM) Chart . Non-GAAP earnings (loss) from operations includes allocation of realized gains or losses on forward contracts and excludes the impact of stock-based compensation expense and related social taxes, acquisition-related amortization, acquisition-related and integration costs, restructuring costs, impairment and certain other nonrecurring costs or recoveries. ET. Its revenue fell 13% annually to … Non-GAAP income tax expense includes certain tax adjustments and taxes on acquisition-related amortization, acquisition-related and integration costs, restructuring costs, other non-recurring costs and foreign exchange. For our full year 2019 outlook, we now expect IoT Solutions segment revenue to increase approximately 3% to 4% year-over-year and Embedded Broadband segment revenue to decrease approximately 22% to 23% year-over-year. The M2M Group’s revenue in the last twelve months was US$17.9 million, of which $9.2 million was recurring subscription-based revenue. Vice President, Investor Relations Whether it is a solution to help a business securely connect edge devices to the cloud, or a software/API solution to help manage processes associated with billions of connected assets, or a platform to extract real-time data to make the best business decisions, Sierra Wireless will work with you to create the right industry-specific solution for your next IoT endeavor. In Q3 2019, we recorded $2.7 million in severance and $3.6 million in transitional costs related to the consolidation of engineering and product management resources as well as the outsourcing initiatives we previously announced. David G. McLennan “And more importantly, we achieved record design win success with over $90 million of future recurring revenue from hundreds of new accounts. +1 (604) 231-1137 3 Sierra Wireless Internet of Things pure play founded 1993 Innovator 4G LTE, LPWA, 5G #1 in modules & gateways $766m Revenue Q2’19 ARR 200+ customers in countries See "Cautionary Note Regarding Forward-Looking Statements" below. They represent our current views and may change significantly. In 2019, we made tremendous progress in transforming Sierra Wireless into the global leader in IoT solutions. Toll-free (Canada and US): 1-877-201-0168. Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today reported results for its third quarter ended September 30, 2019. Annual revenue for the two business segments was as follows: (i) Revenue from IoT Solutions was $377.8 million in 2019, up 1.0% compared to $373.9 million in 2018 due to strong contributions from our recurring and other services revenue, as well as our Enterprise gateway products; partially offset by lower revenue from Integrated IoT solutions modules. We expect the acquisition to be accretive to earnings immediately following closing in early 2020. Vancouver, Canada-January 09, 2019 Sierra Wireless (NASDAQ: SWIR) (TSX: SW), the leading provider of fully integrated device-to-cloud solutions for the Internet of Things (IoT), today announced its award-winning Ready-to-Connect solutions are in mass production. (1) See "Non-GAAP Financial Measures" and "Reconciliation of GAAP and Non-GAAP Results by Quarter" below. Within the IoT Solutions segment, recurring subscription revenue was up 6.7%; and (ii) Revenue from Embedded Broadband was $80.6 million in the third quarter of 2019, down 25.3% compared to $107.9 million in the third quarter of 2018 mainly due to weaker demand from mobile computing, networking and automotive customers. Given its underwhelming third quarter, Sierra Wireless now anticipates full-year 2019 revenue will be in the range of $708 million to $712 million -- … Are based on a number of material assumptions, including, but not limited to, those listed below, which could prove to be significantly incorrect: Are based on our management's current expectations and we caution investors that forward-looking statements, particularly those that relate to longer periods of time, are subject to substantial known and unknown material risks and uncertainties. Restructuring expense of $2.3 million in the fourth quarter of 2019 was comparable to the same period in 2018. Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today reported results for its second quarter ended June 30, 2019. (December 31, 2018 – $2,968), Common stock: no par value; unlimited shares authorized; issued and outstanding: 36,197,137 shares (December 31, 2018 – 36,067,415 shares), Preferred stock: no par value; unlimited shares authorized; issued and outstanding: nil shares, Treasury stock: at cost; 9,612 shares (December 31, 2018 – 119,584 shares), Cash flows provided by operating activities, Proceeds from sale of property and equipment, Repurchase of common shares for cancellation, Purchase of treasury shares for RSU distribution, Taxes paid related to net settlement of equity awards, Effect of foreign exchange rate changes on cash and cash equivalents, Cash, cash equivalents and restricted cash, increase (decrease) in the period, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period, RECONCILIATION OF GAAP AND NON-GAAP RESULTS BY QUARTER, (in thousands of U.S. dollars, except Do the numbers hold clues to what lies ahead for the stock? We expect this will result in full year 2019 revenue in the range of $708 million to $712 million. Sierra Wireless revenue from 2006 to 2020. Revenue for 2019 was $713.5 million compared to $793.6 million in 2018, a decrease of 10.1%. Whether it is a solution to help a business securely connect edge devices to the cloud, or a software/API solution to help manage processes associated with billions of connected assets, or a platform to extract real-time data to make the best business decisions, Sierra Wireless will work with you to create the right industry-specific solution for your next IoT endeavor. To participate in this conference call, please dial the following number approximately ten minutes prior to the start of the call: To access the webcast, please follow the link below: Sierra Wireless Q4 2019 Conference Call and Webcast. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support The company operates through two segments, IoT Solutions and Embedded Broadband. Sierra Wireless has 1,280 employees across 14 locations and $713.51 M in annual revenue in FY 2019. (1) See "Non-GAAP Financial Measures" and "Reconciliation of GAAP and Non-GAAP Results by Quarter" below. We caution you that forward-looking statements may not be appropriate for other purposes. Net loss was $0.3 million, or $0.01 per diluted share, in 2019 compared to net earnings of $32.4 million, or $0.90 per diluted share, in 2018. Revenue for the first quarter of 2019 was $173.8 million compared to $186.8 million in the first quarter of 2018. Cash and cash equivalents at the end of the fourth quarter of 2019 were $75.5 million, representing a decrease of $11.4 million from the end of the third quarter of 2019. We disclose these non-GAAP financial measures as we believe they provide useful information to investors and analysts to assist them in their evaluation of our operating results and to assist in comparisons from one period to another. Net earnings were $1.0 million, or $0.03 per diluted share, in the third quarter of 2019 compared to net earnings of $10.5 million, or $0.29 per diluted share, in the third quarter of 2018. We believe that the business is an excellent strategic fit with our IoT Solutions business with slightly more than half of the M2M Group’s revenue comprised of subscription-based recurring revenue, and representing a segment of the business that has been growing rapidly over the last several years. We use the above-noted non-GAAP financial measures for planning purposes and to allow us to assess the performance of our business before including the impacts of the items noted above as they affect the comparability of our financial results. We expect the acquisition to be accretive to earnings immediately following closing. Quarterly revenue for our two business segments was as follows: (i) Revenue from IoT Solutions was $90.9 million in the fourth quarter of 2019, a decrease of 5.0%, compared to $95.7 million in the fourth quarter of 2018 due primarily to lower Integrated IoT solutions module revenue, partially offset by stronger recurring and other services revenue. Readers are cautioned that non-GAAP financial measures do not have any standardized meaning prescribed by U.S. GAAP and therefore may not be comparable to similar measures presented by other companies. In 2020, we expect annual revenue to be between $690 million to $710 million and Adjusted EBITDA to be between $10 million and $15 million. SIERRA WIRELESS, INC. CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars, except where otherwise stated) (unaudited) June 30, 2020 December 31, 2019… Total revenue in Q1 2019 was $173.8 million, which was at the high-end of our revenue guidance range for the first quarter. Fourth-quarter 2019 revenues fell 13.5% from a year ago, driven by the stubbornly declining "embedded broadband" segment -- with mobile and networking sales … Vice President, Investor Relations [email protected], Revenue: $713.5 million, lower by 10.1% year-over-year; recurring and other services revenue was 13.9% of annual revenue compared to 11.9% in 2018, Loss per share: GAAP loss: $1.95; Non-GAAP loss: $0.01, Revenue: $174.3 million, lower by 13.5% year-over-year; recurring and other services revenue was 15.2% of quarterly revenue compared to 11.6% in 2018, Loss per share: GAAP loss: $0.30; Non-GAAP loss: $0.08, Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"): $2.3 million. We are adjusting our profitability guidance of Adjusted EBITDA to be approximately $23 million and non-GAAP EPS to be in the range of zero to 3 cents. 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