RTTNews | Nov 10, 2021 01:18PM EST

13:18 Wednesday, November 10, 2021 (RTTNews.com) - Canadian communication company, Sierra Wireless, Inc. (SWIR), is trading 14% higher after the company reported a lower-than-expected adjusted loss in the third quarter on Wednesday. The net loss widened to $37.95 million or $1.02 loss per share, from $12.02 million or $0.33 loss per share last year. On an adjusted basis, the loss was $20.7 million, or $0.56 per share, up from $11.7 million, or $0.32 per share in the third quarter of 2020. On average, 10 analysts polled by Thomson Reuters expect the loss to be $0.70 per share for the quarter. The company outlook for revenue for the next quarter was in the range of $120 million to $135 million, in keeping with the analysts' estimate at $122.43 million. The stock is currently trading at $18.36, up $2.31 or 14.39% from its previous close at $16.05. The stock opened at $16.80 in the morning. In the 52-week period, the shares have ranged between $10.60 and $22.22 per share.

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