Sequans Communications – SQNS – Updates Expectations for Q4 2012 Results
NYSE: SQNS) announced that, primarily due to a delay in finalizing an agreement related to a new design win, revenue for the fourth quarter of 2012 is expected to be approximately $3.1 million, below the range of previous guidance. The related impact on non-IFRS loss per diluted share/ADS is an estimated increase in the loss per share by up to $0.02.
“This delay is insignificant except in the context of the low level of overall business during the quarter, which is a result of the decline in WiMAX demand before our LTE design wins could be converted to more significant levels of revenue,” said Georges Karam, Sequans CEO. “Not apparent in our updated guidance is the excellent progress we’ve made recently in reaching various important milestones, including the successful completion of evaluations and lab trials with several LTE operators around the world, adding new customers and partners, and winning a significant share of a key field trial. We continue to expect our LTE revenue to ramp during the second half of 2013, and the revised guidance for the fourth quarter of 2012 does not affect these expectations.”
When the previous guidance was given on October 25, 2012, the company indicated that revenue for the fourth quarter of 2012 was expected to be in the range of $4 million to $6 million, with a non-IFRS net loss per diluted share/ADS between ($0.22) and ($0.26). Both initial and updated non-IFRS EPS guidance assume 34.7 million weighted average diluted shares/ADSs. Non-IFRS guidance excludes primarily the impact of stock based compensation.
About Sequans Communications – SQNS
Sequans Communications S.A. (SQNS) is a 4G chipmaker, supplying LTE and WiMAX chips to original equipment manufacturers and original design manufacturers worldwide. Founded in 2003 to address the WiMAX market, SQNS expanded in early 2009 to address the LTE market. Sequans’ chips are today operating in 4G networks around the world. SQNS is based in Paris, France with additional offices throughout the world, including United States, United Kingdom, Israel, Hong Kong, Singapore, Taiwan, South Korea, and China.
SQNS develops wireless broadband solutions. SQNS supplies silicon and embedded software for WiMAX-based systems. Sequans Communications develops software solutions such as System-on-Chip, which makes it possible to build PHY and MAC layers. It focuses on signal processing and MAC protocols, which translates to a SoC that enables the development of broadband wireless systems.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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