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| In September 1999,
Deloitte & Touche announced the results of its annual
competition to find the fastest growing technology
companies in Canada. Topping the list - Sierra Wireless.
Revenue growth from 1994-1998 had been 7644%. Third Quarter results to Sept. 30, 1999 showed a further 52.7% growth over the previous year. The company developed as a supplier of wireless communications equipment for emergency services - police and fire departments and also provided the communications equipment for Vancouver's West Coast Express commuter rail trains. The Vancouver company is now fast becoming a major international player in the world of wirelesss communications. In June 1999 it became a licensee of Qualcomm's CDMA wireless technology enabling it to "to develop, manufacture and sell subscriber equipment for cdmaOne™ and cdma2000™ wireless applications, including cellular, Personal Communications Services (PCS) and wireless local loop, using QUALCOMM's proprietary CDMA technology and patents." In August 1999 it launched Aircard 300 for Windows and AirCombo 350, wireless modem solutions for laptop and portable computers. Aircard 300 was "the industry's first true Type II wireless PC Card solution for mobile devices supporting Windows CE, 95, 98, and NT." And it is the only wireless WAN interface for notebooks using Microsoft operating systems. On November 2, 1999 Sierra announced it had been selected to supply communications equipment for the America's Cup race, joining two New Zealand companies, Trimble Navigation and Ericsson to form the telecommunications team. And on November 10, 1999 the company announced a US$30 million contract to supply wireless modems to Metricom Inc. of California. That company is controlled by Microsoft co-founder Paul Allen who owns 45% of it. MCI Worldcom owns 35%. Sierra Wireless was launched as an IPO on May 7, 1999 closing at $14.25 that day. In the wake of the Metricom deal it moved up to close at $28.00 on Nov. 12th. It subsequently climbed as high as $232 in March 2000 before crashing with the Spring tech washout. The third quarter to Sept. 30, 2000 showed a 162% increase in revenues and a return to profitability. The stock price has shown a steady comeback since then. Sierra Wireless trades on the TSE as SW. Shares Outstanding: 15,911,518
David Sutcliffe Interview - Stockhouse interview with Sierra's President & CEO from October 11, 1999 Address: Phone:
604-231-1100 This
page first posted: Nov. 14, 1999 |
Stock Symbol: SW (TSE) Profile News: Forums: |