VANCOUVER – Sierra Wireless has narrowed its net loss to $6.8 million in the second quarter compared to $8.6 million for same period in 2010. Revenues were down to $139.9 million, a decrease of 12% compared to $159.1 million in the second quarter of 2010, and a decrease of 3% compared to $144.3 million in the first quarter of 2011.
The wireless technology maker blamed the year-over-year revenue decrease on the loss of revenue from Barnes & Noble and Clearwire, which together accounted for nearly $25 million in revenue in the second quarter of 2010.
Mobile computing revenue was $66 million, down 13% compared to $75.5 million in the second quarter of 2010. Machine-to-Machine revenue was $73.9 million, down 12% compared to $83.6 million in the second quarter of 2010.
Excluding sales to Barnes & Noble, the company’s core M2M business increased 14% in the second quarter of 2011 on a year-over-year basis.
"Notwithstanding a slower than expected start to 2011, Sierra Wireless remains well positioned in our two target markets. In mobile computing, we are launching several new 4G LTE products with key operators and PC OEMs. In M2M, we continue to build on our global leadership position and successfully drive value chain expansion," said Jason Cohenour, president and CEO.
"Our growth drivers remain intact and despite some product launch delays, we expect significant sequential revenue and earnings growth in the second half of 2011."
