Sierra Wireless Reports Third Quarter 2019 Results
Sierra Wireless, Inc. (SWIR)
Last sierra wireless, inc. earnings: 2/13 04:32 pm
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sierrawireless.com/company/investor-information
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Source: Business Wire
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today reported results for its third quarter ended September 30, 2019. 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 continue to make strong progress on our transformation to an integrated IoT Solutions company,” said Kent Thexton, President and CEO. “We had a record quarter in new recurring services wins and our services pipeline is growing. In addition, we are continuing to drive greater efficiencies in our business under our two-year cost reduction program.”Revenue for the third quarter of 2019 was $174.0 million compared to $203.4 million in the third quarter of 2018. Quarterly revenue for our two business segments was as follows: (i) Revenue from IoT Solutions was $93.4 million in the third quarter of 2019, a decrease of 2.1% compared to $95.5 million i
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