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What's happening?
Shares of Sierra Wireless (NASDAQ:SWIR) jumped 25% Thursday after the company's third quarter results and forward guidance both significantly exceeded expectations.

Why it's happening
Quarterly revenue climbed 27.6% year over year to $143.3 million, driven by 29.7% growth in OEM solutions to $124.3 million, and 15.4 % growth in Enterprise solutions to $19 million. Organic revenue growth, which excludes contributions from Sierra Wireless' acquisitions of the AnyData and In Motion Technology businesses, came in at 18.8% over the same year-ago period. Meanwhile, adjusted net earnings more than doubled to $7.7 million, or $0.24 per share. Analysts, on average, were only expecting earnings of $0.13 per share on sales of $138.8 million.

For the current quarter, Sierra Wireless expects revenue of $145 million to $148 million, and earnings per share in the range of $0.25 to $0.28. The mid-point of both ranges sits well above analysts' expectations for fourth quarter revenue and earnings of $142.4 million and $0.17 per share, respectively.

Sierra Wireless CEO Jason Cohenour hailed the company's "leadership position in M2M" as helping drive company-record revenue and solid profitability. He then promised, "While executing operationally, we will continue to pursue acquisitions that help accelerate our growth and enhance our strategic position."