CIBC Downgrades Sierra Wireless (SWIR) to Sector Underperform

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Go back to CIBC Downgrades Sierra Wireless (SWIR) to Sector Underperform

Sierra Wireless (SWIR) Tops Q2 EPS by 8c; Sees FY16 Results Below Prior Views

August 5, 2016 6:44 AM EDT

Sierra Wireless (NASDAQ: SWIR) reported Q2 EPS of $0.20, $0.08 better than the analyst estimate of $0.12. Revenue for the quarter came in at $156.2 million versus the consensus estimate of $154.39 million.

Acquisition of GenX Mobile

On August 3, 2016, we completed the acquisition of all of the outstanding shares of GenX Mobile Incorporated ("GenX") for total cash consideration of $7.8 million ($6.0 million, net of cash acquired), subject to working capital adjustments. GenX is a provider of in-vehicle cellular devices for the fleet management, asset tracking and... More