Sierra Wireless Launches AirLink Raven RV50 Gateway the LTE
Nov 17 15
Sierra Wireless announced the launch of the AirLink Raven RV50 gateway the LTE successor to the market's most widely deployed cellular gateway solution for energy and industrial applications, the AirLink Raven series. The AirLink Raven RV50 offers a truly rugged design and the lowest power consumption of any LTE industrial gateway, providing reliable connectivity for the most demanding remote applications, even when solar panels are the only available source of power. The Raven RV50 is an ideal migration path for customers to cost-effectively upgrade to LTE technology for their industrial IoT applications, while providing additional functionality to enable new solutions such as remote video surveillance Offering intelligence at the edge, the Raven RV50 includes the ALEOS Application Framework (AAF), a powerful embedded programming environment for on-board data gathering, real-time data processing and alert generation. The application framework also enables the delivery of critical real-time data and information, reliably and securely over LTE networks, to the Sierra Wireless IoT Acceleration Platform or to other software applications and operational systems. The AirLink Raven RV50 is the first product of its kind to offer SIM-based network operator switching just insert the SIM into the gateway and it automatically configures the new network settings. The RV50 ships as a single product variant that works on all major North American networks, simplifying the ordering and inventory process, and providing unmatched flexibility in managing deployments. Customers can take advantage of the best network coverage in remote areas without increasing complexity.
Sierra Wireless Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015
Nov 5 15
Sierra Wireless Inc. reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2015. Revenue for the third quarter of 2015 was $154.6 million, an increase of 7.9% compared to $143.3 million in the third quarter of 2014. The increase was mainly driven by growth in oem solutions, with solid contributions from automotive, energy, and enterprise networking customers as well as contributions from the acquired maingate and accel businesses. This increase was partially offset by the continued unfavorable foreign exchange impact on euro denominated revenue and weaker year-over-year gateway revenue. Net earnings were $3.3 million, or $0.10 per diluted share, in the third quarter of 2015, compared to a net loss of $2.9 million, or $0.09 per diluted share, in the third quarter of 2014. The improvement was primarily a result of stronger earnings from operations and a lower foreign exchange loss partially offset by higher income tax expenses. Non-GAAP net earnings were $7.4 million, or $0.23 per diluted share, in the third quarter of 2015, compared to net earnings of $7.7 million, or $0.24 per diluted share, in the third quarter of 2014. Adjusted earnings before interest, taxes, depreciation and amortization were $12.1 million in the third quarter of 2015, compared to $11.8 million in the third quarter of 2014. Earnings from operations was $4,202,000 against $2,943,000 for the same period of last year. Earnings before income taxes was $4,113,000 against loss of $4,779,000 for the same period of last year. Cash flows provided by operating activities was $10,444,000 against $28,883,000 for the same period of last year. The decrease was primarily due to higher inventory purchases, partially offset by higher earnings from operations. Additions to property and equipment was $3,397,000 against $1,983,000 for the same period of last year. Increase in intangible assets was $242,000 against $288,000 for the same period of last year. Non GAAP earnings from operations was $9,475,000 against $8,381,000 for the same period of last year. Net earnings from continuing operations was $3,286,000 compared to loss from continuing operations $2,904,000 a year ago.
For the nine months, revenue was $462,952,000 against $399,445,000 for the same period of last year. Earnings from operations was $10,788,000 against loss of $9,993,000 for the same period of last year. Earnings before income taxes was $474,000 against loss of $17,923,000 for the same period of last year. Net loss was $2,291,000 against loss of $15,152,000 for the same period of last year. This reflects improved earnings from operations, partially offset by an increase in foreign exchange loss and higher income tax expenses. Net loss per diluted share was $0.07 against $0.48 for the same period of last year. Cash flows provided by operating activities was $1,432,000 against $37,354,000 for the same period of last year. The decrease was primarily due to higher inventory purchases, partially offset by higher earnings from operations. Additions to property and equipment was $9,214,000 against $5,625,000 for the same period of last year. Increase in intangible assets was $829,000 against $1,373,000 for the same period of last year.
In the fourth quarter of 2015, compared to the third quarter of 2015, the company expects revenue to be down slightly, primarily reflecting a short term situation with an Automotive customer. Expects gross margin percentage to be slightly lower, resulting from a higher cost end of life component used in some of the legacy OEM products; and operating expenses to increase slightly, driven by targeted investment in Sales and R&D. On non-GAAP basis, the company expects, revenue to be in the range of $148.0 to $151.0 million; earnings from operations to be in the range of $4.0 to $5.0 million; net earnings to be in the range of $3.0 to $3.7 million; and earnings per share to be in the range of $0.09 to $0.11 per share.
Itron Selects Sierra Wireless AirPrime HL Series Modules to Enable Cellular Connectivity in its Latest Line of Smart Gas Meters
Nov 4 15
Sierra Wireless announced that Itron has selected AirPrime HL Series modules to enable cellular connectivity in its latest line of smart gas meters. The point-to-point residential meters will begin shipping later this quarter to support smart metering initiatives across Europe, beginning with a deployment in Italy. Itron selected Sierra Wireless based on the company's smart metering expertise and the global reach the AirPrime HL Series provides. The two companies have previously announced their collaboration to provide smart electrical meters. This is the first time they have collaborated to provide connected gas meters. The HL Series uses the new CF3TM form factor from Sierra Wireless, which is footprint-compatible across product lines and network technologies and will remain fully interchangeable with future versions of the modules, including those for LTE-M networks when they become available. LTE-M technology is expected to provide a highly efficient cellular LPWA (Low-Power Wide Area) technology option for smart metering and smart grid applications, with lower radio-frequency complexity, significantly reduced power consumption (up to 10 years of service on a single AA battery), better in-building signal penetration, and lower costs. Sierra Wireless is an active contributor to the LTE-M standard definition process within the 3GPP and has committed to launching compatible modules timed with network deployments, expected to begin in 2017.