UPDATE: Sequans Reports Upbeat Q4 Results, Issues Downbeat Q1 Outlook

Sequans Communications SA (NYSE: SQNS) reported better-than-expected fourth-quarter results and issued a weak first-quarter forecast.

Sequans expects Q1 loss of $0.27 to $0.29 per American Depository Shares (ADS), on an adjusted basis, on revenue of $4 million to $5 million. However, analysts were projecting a loss of $0.18 per ADS on revenue of $8.64 million.

Sequans' quarterly net loss climbed to $5.6 million, or $0.16 per ADS, from a year-ago loss of $2.8 million, or $0.10 per ADS. Excluding items, Sequans lost $0.12 per ADS, versus analysts' estimates for a $0.17 per ADS loss.

Sequans' revenue dropped 50% to $11.5 million, versus analysts' estimates of $11.14 million.

Sequans shares gained 1.56% to $3.25 in after-hours trading.