Wireless networks supplier, DragonWave has reported a 7% rise in second quarter of fiscal year 2009 revenues to US$10.6 million. Revenue from outside North America increased 73% from $1.7 million to $2.9 million and represented 28% of total revenue for the quarter. Revenue from customers within North America decreased 7% from $8.2 million to $7.6 million and represented 72% of total revenue for the quarter.
Gross margin for the second quarter was 34%, a decrease of 2% from the gross margin reported in the second quarter of fiscal 2008.
For the second quarter fiscal year 2009, the loss from operations increased to $2.8 million, compared to a loss of $1.8 million in the second quarter of fiscal year 2008.
Expenses increased from $5.4 million to $6.5 million due to increased sales and marketing activities required to support the growing international business, and R&D associated with the engineering activity related to the release of new product platforms and variants. The net loss for the quarter was $1.7 million versus $2.1 million in Q2 fiscal 2008.
"DragonWave made good progress during the quarter as we continued to increase our market presence. We took major steps forward on three continents with the Sprint win in North America, the Altitude announcement in Europe, and the addition of Brightstar in the Caribbean and Latin American region. Our product portfolio continues to perform well in the high capacity wireless backhaul market globally." said Peter Allen, President and CEO of DragonWave.
Posted to the site on 10th October 2008
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