Why Sierra Wireless, Inc. Stock Fell 24.6% in August
Shares of Sierra Wireless (NASDAQ: SWIR) declined 24.6% in August, according to data from S&P Global Market Intelligence, after the Internet of Things pure play announced strong second-quarter 2017 results and reasonably solid forward guidance, but also announced a significant dilutive acquisition.
More specifically on the former, Sierra Wireless' quarterly revenue climbed 11.1% year over year to $173.5 million, and translated to adjusted net income of $9.7 million, or $0.30 per share. Both figures arrived at the high ends of Sierra Wireless' respective guidance ranges provided three months earlier, which called for revenue of $165 million to $175 million, and adjusted earnings per share in the range of $0.24 to $0.32.
IMAGE SOURCE: SIERRA WIRELESS
Source: Fool.com
