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Sierra Wireless increases credit facility after softer Q1

Friday 8 May 2020 | 13:25 CET | News
Sierra Wireless said results for the first quarter were impacted by the coronavirus pandemic and consequent supply chain disruptions, but that they still hit expectations. The company said it has however taken measures to reduce operating expenditures with initiatives such as deferred salary increases, reducing executive salaries by 10 percent, cutting discretionary spending and lowering capex. Finally, the company increased its revolving bank credit facility at end April to USD 50 million, providing an additional USD 20 million of liquidity, and pushed the maturity date of the facility to

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Categories: Mobile & Wireless
Companies: Sierra Wireless
Countries: World
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