Vancouver's Sierra Wireless (TSX:SW) saw its revenue and profits soar in 2007.
The wireless PC card manufacturer saw its annual revenue almost double, to $439.9 million, from $221.3 million in 2006.
Its annual net profit jumped to $32.4 million, up from $9.8 million in 2006. Strong organic growth and the accretive benefits from its acquisition of AirLink contributed to the strong financial performance during the year. For 2008, the company expects continued strong sales growth, as it expands its market share and continues to diversify its product line.
For the first quarter of 2008, the company reported revenue guidance of $136 million and a quarterly profit of $9.4 million. Sierra Wireless' share price range during the past week: between $14.21 and $15.14; 52-week high: $29.37; 52-week low: $12.40.