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The company's GAAP revenue for the first quarter of 2009 declined to $111.4 million from $141.9 million in the same period of 2008. GAAP gross margin in the first quarter of 2009 declined to $30.7 million from $39.3 million in the first quarter of 2008.
Jason Cohenour, president and CEO of Sierra Wireless, said: "In the first quarter of 2009, we posted better than expected financial results, introduced and launched several market leading products and completed our acquisition of Wavecom. Our first quarter revenue, non-GAAP earnings and cash flow from operations were all better than expected. We launched the world's first HSPA+ products with Telstra in Australia and CSL in Hong Kong, while also introducing new embedded module solutions and launching important high volume successor products with key customers."
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