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Sequans -13.5% on light Q4 guidance

Oct. 23, 2014 10:17 AM ETSequans Communications S.A. (SQNS) StockBy: Eric Jhonsa, SA News Editor1 Comment
  • Sequans (NYSE:SQNS) expects Q4 revenue of $7M-$8M and EPS of -$0.12 to -$0.14, below a consensus of $11.4M and -$0.10.
  • A 68% increase in LTE product sales fueled a 59% increase in Q3 revenue. However, with total revenue only at $6.46M, Sequans' 4G baseband chip sales remain a small fraction of market leader Qualcomm's. Intel, Marvell, MediaTek, Spreadtrum, and Nvidia also compete in this space.
  • Gross margin was 39.4% vs. 41.3% in Q2 and 25.1% a year ago. Opex rose 4% Y/Y to $31.3M, with R&D spend accounting for $22M.
  • Shares are close to a 52-week low of $1.31.
  • Q3 results, PR

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