Benzinga | May 13, 2021 05:16PM EDT

Sierra Wireless Sees Q2 Sales $118M-$122M vs $113.08M Est.

The impact of the COVID-19 pandemic on our global business continues to remain uncertain. While we continue to evaluate the effects on our business, the overall severity and duration of adverse impacts related to COVID-19 on our business, financial condition, cash flows and operating results for 2021 and beyond cannot be reasonably estimated at this time. Due to continued strong demand and the investment in working capital to combat the industry wide tightness in supply, we expect our revenue for the second quarter of 2021 to be in the range of $118 million to $122 million. Demand remains strong in the second quarter of 2021, and we have secured hardware orders and recurring revenue that is approximately 20% above the mid-point of our Q2'21 revenue guidance. However, we continue to face a tight global supply chain environment that is constraining our ability to source all the necessary components and fully deliver to this level of demand.