Sequans Communications (SQNS) Reports In-Line Q1 EPS; Issues Q2 Outlook
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Sequans Communications Announces $7 Million Debt Financing
April 28, 2016 6:00 AM EDTPARIS--(BUSINESS WIRE)-- 4G chipmaker Sequans Communications S.A. (NYSE: SQNS) today announced that it has raised net proceeds of $7 million from the sale of convertible notes to two institutional investors, including a current shareholder that purchased the convertible note issued in April 2015, in a private placement transaction. The company intends to use the proceeds for general corporate purposes.
The convertible notes will mature in April 2019 and will bear interest at a rate of 7% per year, paid in kind annually on the anniversary of the issuance of the note. The... More
Sequans Communications Announces First Quarter 2016 Financial Results
April 28, 2016 6:00 AM EDTPARIS--(BUSINESS WIRE)-- 4G chipmaker Sequans Communications S.A. (NYSE: SQNS) today announced financial results for the first quarter ended March 31, 2016.
First Quarter 2016 Highlights:
Revenue: Revenue of $9.3 million decreased 15% compared to the fourth quarter of 2015 primarily as a result of the typical pattern of seasonality as well as lower sales to one customer due to an inventory adjustment. Revenue increased 93% compared to the first quarter of 2015, due to higher product sales for design wins in both the U.S. and emerging markets, as well as higher other revenue.
... More
