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Tuesday, April 29, 2008

Sierra Wireless (SWIR) 1Q:2008 results

Sierra reported better revenues and guided above the street for next quarter. There's a spike in receivables though it's not at levels I would consider very troubling. It's just unusual seasonally and relative to sales so it's something to keep an eye on.

Sierra Wireless (SWIR)

      
 

1Q:08

4Q:07

3Q:07

2Q:07

1Q:07

4Q:06

Revenues

141.9

135.6

111.5

107.4

85.4

68.3

Receivables

100.7

83.1

69.1

69.0

49.3

57.4

DSO

63.9

55.2

55.8

57.8

52.0

75.6

       

Seq change in revs

4.6%

21.6%

3.8%

25.8%

25.0%

 

Seq change in receivables

21.2%

20.3%

0.1%

40.0%

-14.1%

 


 

There's 30% short interest in this name. I never advise jumping into a crowd like that without a damn good reason and this isn't one of those.


 


 

3 comments:

Matt said...

The day after SWIR posted better than expected earnings and raised guidance it fell upwards of 7-7.5%...I can't say Ive seen this before in any of the other stocks I own. Thoughts?

Anonymous said...

It did run up 50% over the last
6 weeks,and the stock has a history of this kind of action after stellar earnings.It will
probably bounce/fall and then
go up before Q2.This is something you don't want to hold just trade.

Roy Howard said...

You know, I don't follow it that closely. I see that the stock had a pretty good ramp between last quarter and this quarter, so I'd presume expectations were that the number would be better than it actually was. The balance sheet clearly did deteriorate somewhat with the receivables jumping like they did relative to the revenues.

With short interest like that I was surprised it dropped today also.

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