At first glance, it seemed mobile connectivity upstart Sierra Wireless‘ (NASDAQ: SWIR) 2016 first-quarter financials left a bit to be desired. Revenue was down, led by Sierra’s original equipment manufacturer (OEM) unit’s 9% drop in sales to $120.88 million, compared to $133 million a year ago. That’s significant, given Sierra generates the vast majority of its revenue — about 85% — from its OEM solutions division.