VANCOUVER, British Columbia-Wireless modem maker Sierra Wireless reported earnings ahead of company expectations, with revenues clocking in at $22.5 million and profits of $1.3 million.
“We are pleased to report further growth and continued profitability for the fourth quarter, a gratifying end to a most difficult year,” said David Sutcliffe, the company’s chairman and chief executive officer. “Sales of our newer 2.5G products in North America, Europe, and the Asia-Pacific region were among the highlights of the quarter. Looking to the year ahead, we expect overall economic and industry conditions to continue to be challenging.”
The company’s stock was down about 10 percent after the news to about $4.24 per share.
