DragonWave Revenues Decline, but Also Shrinks Losses
Published on: 15th May 2014
Note -- this news article is more than a year old.
Microwave backhaul vendor, DragonWave has posted another quarterly decline in revenues, and greater dependence on the NSN channel for sales.
Revenue for the fourth quarter of fiscal year 2014 was USD17.9 million, compared with $28.3 million a year ago. Revenue from the Nokia channel (formerly NSN) represented 68% of revenue in the fourth quarter versus 61% a year ago.
The net loss however shrank sharply to USD11.6 million compared to US$27.2 million a year ago.
"We are deep into the first quarter of fiscal year 2015, and we see an inflection in demand which allows me to anticipate Q1 revenue growth of approximately 50% over Q4 fiscal year 2014." said DragonWave President and CEO Peter Allen. "I am pleased that there are contributions to this growth from both the Nokia channel and our direct business, and the funnel for both is improving."
Cash and cash equivalents totaled $19 million at the end of the quarter.