For more information, visit www.sierrawireless.com. 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 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. Operating expenses were $53.3 million and earnings from operations were $1.8 million in the third quarter of 2019 compared to operating expenses of $56.5 million and earnings from operations of $10.9 million in the third quarter of 2018. 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. Restructuring expenses were $28.2 million in 2019 compared to $7.1 million in 2018. Do the numbers hold clues to what lies ahead for the stock? Chief Financial Officer 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 Thursday February 13, 2020, at 5:30 PM Eastern time (2:30 PM Pacific time). On January 7, 2020, we completed the acquisition of M2M group of companies ("M2M Group") in Australia. See "Cautionary Note Regarding Forward-Looking Statements" below. Voici quelques recommandations d’analystes. These non-GAAP measures are reviewed regularly by management and the Board of Directors as part of the ongoing internal assessment of our operating performance. 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. The IoT Solutions segment offers recurring connectivity services, cloud management software, and cellular modules and gateways. Revenue for the third quarter 2019 was $174 million compared with $203.4 million in the third quarter of 2018. ET. 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 investor@sierrawireless.com, 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. 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. 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. The business is an excellent strategic fit with our IoT Solutions business with slightly more than half of the M2M Group’s revenue coming from subscription-based recurring revenue. Given its underwhelming third quarter, Sierra Wireless now anticipates full-year 2019 revenue will be in the range of $708 million to $712 million -- … Private Securities Litigation Reform Act of 1995 and Canadian securities laws (“forward-looking statements”) and may include statements and information relating to our Q3 2019 corporate update; financial guidance for our fiscal year 2019; expectations regarding the Company's cost savings initiatives; expectations regarding the acquisition of M2M Group and the timing thereof; our business outlook for the short and longer term; statements regarding our strategy, plans, goals, objectives, expectations and future operating performance; the Company’s liquidity and capital resources; the Company’s financial and operating objectives and strategies to achieve them; general economic conditions; estimates of our expenses, future revenues, non-GAAP earnings per share and capital requirements; our expectations regarding the legal proceedings we are involved in; statements with respect to the Company’s estimated working capital; expectations with respect to the adoption of IoT solutions; expectations regarding trends in the IoT market and wireless module market; expectations regarding product and price competition from other wireless device manufacturers and solution providers; our ability to implement effective control procedures; and expectations regarding the launch of fifth generation cellular embedded modules. +1 (604) 231-1181 Fourth-quarter 2019 revenues fell 13.5% from a year ago, driven by the stubbornly declining "embedded broadband" segment -- with mobile and networking sales … Companies globally are adopting IoT to improve operational efficiency, create better customer experiences, improve their business models and create new revenue streams. 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. recurring revenue in Year 3 following customer’s activation •We made strong progress towards targets of $200 million in recurring and other services revenue by the middle of 2022 and $400 million by the middle of 2024 Call Participants. 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. We do not intend to update or revise our forward-looking statements unless we are required to do so by securities laws. Operating expenses were $278.0 million and loss from operations was $58.0 million in 2019 compared to operating expenses of $282.8 million and loss from operations of $18.3 million in 2018. Historical Revenue (TTM) Data. 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. 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. View and export this data going back to 1999. In 2019, we made tremendous progress and delivered on our plan with $99.1 million in recurring and other services revenue,” said Kent Thexton, President and CEO. 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. Non-GAAP gross margin excludes the impact of stock-based compensation expense and related social taxes and certain other nonrecurring costs or recoveries. Preferred stock: no par value; unlimited shares authorized; Treasury stock: at cost; 44,487 shares (December 31, 2018 – 119,584 shares), Cash flows provided by (used in) operating activities, Proceeds from sale of property and equipment, Issuance of common shares, net of issuance cost, 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 where otherwise stated), Stock-based compensation and related social taxes, Realized gains (losses) on hedge contracts, Earnings (loss) from operations - Non-GAAP, Stock-based compensation and related social taxes, restructuring, impairment, acquisition-related, integration and other nonrecurring costs (recoveries), Amortization (exclude acquisition-related amortization), Investor and Media Contact: 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 +1 (604) 231-1181 Que faire avec les titres de Gildan, Power Corp. et Sierra Wireless? 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. 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. 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. Revenue for the third quarter of 2019 was $174.0 million compared to $203.4 million in the third quarter of 2018. 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. 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. We continue to make strong progress on our transformation to an integrated […] 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. Sierra Wireless reported results for its third quarter ended Sept. 30. SIERRA WIRELESS, INC. CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars, except where otherwise stated) (unaudited) June 30, 2020 December 31, 2019… Gross margin was $55.0 million, or 31.6% of revenue, in the third quarter of 2019 compared to $67.3 million, or 33.1% of revenue, in the third quarter of 2018. Are not promises or guarantees of future performance. 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. 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. The webcast will remain available at the above link for one year following the call. In addition to the above, non-GAAP net earnings (loss) and non-GAAP net earnings (loss) per share exclude the impact of foreign exchange gains or losses on translation of certain balance sheet accounts, foreign exchange gains or losses on forward contracts and certain tax adjustments. On November 5, 2019, we signed an agreement to purchase the M2M group of companies ("M2M Group") in Australia to expand our IoT Solutions business in the Asia-Pacific region. Revenue for the first quarter of 2019 was $173.8 million compared to $186.8 million in the first quarter of 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). Non-GAAP gross margin excludes the impact of stock-based compensation expense and related social taxes and certain other nonrecurring costs or recoveries. 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. We also use non-GAAP earnings from operations as one component in determining short-term incentive compensation for management employees. We adopted the new accounting standard for lease accounting (ASC 842) effective January 1, 2019. They represent our current views and may change significantly. dclimie@sierrawireless.com, Investor Contact: Other product or service names mentioned herein may be the trademarks of their respective owners. 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. Product revenue was $614.4 million, down 12.1% … 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. Gross margin was 30.9% in 2019 compared to 33.4% in 2018. The increase in cash was primarily due to cash flow from operating activities, partially offset by capital expenditures. Questions and Answers. View 4,000+ financial data types. 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. Vice President, Investor Relations Gross margin was 31.7% in the third quarter of 2019 compared to 33.1% in the third quarter of 2018. Gross margin was 29.5% in the fourth quarter of 2019 compared to 32.7% 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 Q4 2019 Conference Call and Webcast. 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. We expect the acquisition to be accretive to earnings immediately following closing. Other product or service names mentioned herein may be the trademarks of their respective owners. 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. 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 continue to make strong progress on our transformation to an integrated IoT Solutions company,” said Kent Thexton, President and CEO. A live slide presentation will be available for viewing during the call from the link provided below. Its revenue fell 13% annually to … Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today reported results for its fourth quarter and fiscal year ended December 31, 2019. Typically include words and phrases about the future such as "outlook", "will", "may", “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential”, “possible”, or variations thereof. 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%. Sierra Wireless Inc (NASDAQ: SWIR) Q2 2019 Earnings Call Jul 31, 2019, 5:30 p.m. Restructuring expense was $6.3 million compared to $0.2 million in the third quarter of 2018. These non-GAAP measures are reviewed regularly by management and the Board of Directors as part of the ongoing internal assessment of our operating performance. 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. We are seeing strong customer demand for our bundled solutions and increasing design wins in the growing IoT market.”. David Climie These statements are based on management's current beliefs and assumptions, which could prove to be significantly incorrect. These statements are based on management's current beliefs and assumptions, which could prove to be significantly incorrect. 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. They represent our current views and may change significantly. Total revenue in Q1 2019 was $173.8 million, which was at the high-end of our revenue guidance range for the first quarter. Sierra Wireless Revenue (TTM): 697.28M for March 31, 2020. The M2M Group is focused on IoT connectivity services and cellular devices in Australia, and the acquisition expands the Company's IoT Solutions business in the Asia-Pacific region. 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. 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. See "Non-GAAP Financial Measures" below. 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. Operating expenses were $67.6 million and loss from operations was $12.6 million in the third quarter of 2019 compared to operating expenses of $66.4 million and earnings from operations of $0.9 million in the third quarter of 2018. Richmond, BC, August 2, 2019--Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) reported results for its second quarter ended June 30, 2019. Recurring and other services revenue in the fourth quarter was $26.5 million, representing 15.2% of consolidated revenue and Product revenue was $147.8 million, representing 84.8% of consolidated revenue. We caution you that forward-looking statements may not be appropriate for other purposes. David Climie 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. Revenue for the fourth quarter of 2019 was $174.3 million compared to $201.4 million in the fourth quarter of 2018. We delivered our plan of $99.1 million of recurring and other service revenue in … View the latest SWIR financial statements, income statements and financial ratios. 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. Revenue for the third quarter of 2019 was $174.0 million compared to $203.4 million in the third quarter of 2018. We caution you that forward-looking statements may not be appropriate for other purposes. Adjusted EBITDA was $21.1 million in 2018 compared to $55.9 million in 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 in the third quarter of 2018 due to lower Integrated IoT solutions module revenue, partially offset by stronger subscription, support and other services revenue and stronger sales of Enterprise gateway products. AirPrime, AirLink, AirVantage, mangOH and Legato are trademarks of Sierra Wireless. “And more importantly, we achieved record design win success with over $90 million of future recurring revenue from hundreds of new accounts. We expect the acquisition to be accretive to earnings immediately following closing in early 2020. Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") were $6.3 million in the third quarter of 2019 compared to $16.0 million in the third quarter of 2018. Toll-free (Canada and US): 1-877-201-0168. Revenue for 2019 was $713.5 million compared to $793.6 million in 2018, a decrease of 10.1%. 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. Companies globally are adopting IoT to improve operational efficiency, create better customer experiences, improve their business models and create new revenue streams. Cautionary Note Regarding Forward-Looking Statements. 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