Sierra Wireless announced a drop in revenues for the second quarter thanks to loss of business with Clearwire and Barnes & Noble.
Revenue came in at $139.9 million, a decrease of 12 percent compared with $159.1 million in the year-ago period. Barnes & Noble and Clearwire together accounted for nearly $25 million in revenue in the second quarter 2010.
Barnes & Noble, which uses Sierra products in its Nook e-reader, has said its sales dropped as rival bookstore chain Borders went into liquidation.
Mobile computing revenue was $66 million, down 13 percent compared to $75.5 million in the second quarter of 2010. Machine-to-machine revenue was $73.9 million, down 12 percent compared to $83.6 million in the second quarter of 2010. Net loss improved to $6.8 million, or 22 cents per diluted share, in the second quarter of 2011, compared with a net loss of $8.6 million, or 28 cents per diluted share, in the second quarter of 2010.
- see this release
- see this Canadian Press article
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