DragonWave Posts Revenue of $27M

DragonWave reported revenue of US$27.0 million for the third quarter of its fiscal year 2011, compared with $27.2 million in the second quarter of fiscal year 2011 and $51.6 in the third quarter of fiscal year 2010. Net loss in the third quarter of fiscal year 2011 was $0.05 million, which equated to $0.00 per diluted share, compared with net income of $1.2 million or $0.03 per diluted share in the second quarter of this fiscal year and $11.6 million or $0.34 in the third quarter of the prior fiscal year.



Revenue from customers within North America was $22.8 million, compared with $20.3 million in the second quarter and $48.7 million in the third quarter of the prior fiscal year. Revenue from customers outside North America was $4.2 million, compared with $6.9 million in the second quarter of this fiscal year and $2.9 million in the third quarter of the prior fiscal year. DragonWave had two customers who each contributed more than 10% of revenue in the third quarter.



"We made progress this quarter in our global diversification strategy, particularly with the acquisition of Axerra Networks and the announcement of our joint venture in India," said DragonWave President and CEO Peter Allen. http://www.dragonwaveinc.com