Sierra Wireless Reports Fourth Quarter and Full Year 2013 Results

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Sierra Wireless Reports Fourth Quarter and Full Year 2013 Results

Sierra Wireless, Inc. today reported results for its fourth quarter and full year, ending December 31, 2013.

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.

Q4 highlights from continuing operations:

+ Record revenue of $118.6 million, up 5.7% compared to Q3, 2013
+ Adjusted EBITDA of $6.2 million, compared to $5.9 million in Q3, 2013
+ Non-GAAP earnings from operations of $2.6 million, compared to $2.4 million in Q3, 2013

Full year highlights from continuing operations:

+ Record revenue of $441.9 million, up 11.2% year-over-year
+ Adjusted EBITDA of $18.7 million, up 47.9% year-over-year
+ Non-GAAP earnings from operations of $5.0 million, compared to $0.9 million in 2012

“We achieved record revenue in the fourth quarter, closing out a year in which we delivered solid operational results, sold our AirCard business, and began putting the proceeds to work on acquisitions that extend our leadership position in M2M,” said Jason Cohenour, President and Chief Executive Officer.

“We are exceptionally well positioned to capture the long-term M2M growth opportunity, and we are focused on continuing to drive profitable organic revenue growth, while we pursue additional acquisitions.”

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