DragonWave Tops $47 Million in Quarterly Revenue

DragonWave reported revenue for its third quarter of fiscal year 2015, ended November 30, 2014,  of $47.3 million, compared with $37.9 million in the second quarter of fiscal year 2015 and $22.2 million in the third quarter of fiscal year 2014. DragonWave had two customers who each generated more than 10% of revenue. Revenue through the Nokia channel was $23.7 million or 50% of total revenue this quarter, versus 60% in the second quarter of this fiscal year and 51% in the third quarter of the prior fiscal year. Another international customer contributed 26% of revenue in third quarter of fiscal year 2015.

Gross profit in the third quarter of fiscal year 2015 was 16.3%, compared with 15.5% in the second quarter and 11.1% in the third quarter of fiscal year 2014.

“DragonWave delivered strong revenue growth again this quarter as we expected,” said Peter Allen, President and CEO. “As we look forward, we believe that we have the opportunity in Q4 to again have sequential revenue growth of up to 10%.  We are pleased that we have received first orders for our recently announced Harmony Enhanced product line, which extends our product leadership and will help drive the revenue growth opportunity beyond Q4.”

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