DragonWave Q3 revenue up

DragonWave, a Canada-based provider of wireless ethernet equipment, has posted financial results for its third quarter of fiscal year 2009 with revenues increasing to C$10.7m , compared with C$10.6m in the second quarter of fiscal 2009.

Gross margin for the third quarter was 35%, compared to 34% in the second quarter of fiscal 2009.

Revenue for the nine months period ended November 30, 2008 was C$32m compared to C$30.1m in the corresponding period of fiscal 2008, a growth of 6.5%

The company reported the net loss of C$0.2m for the third quarter of fiscal year 2009, compared to C$1.7m in the second quarter of fiscal 2009.

For the third quarter of fiscal year 2009, the loss from operations was C$2.8m, which was consistent with the loss in the second quarter of fiscal 2009.

Peter Allen, president and CEO of DragonWave, said: DragonWave's results for the quarter showed the company's resilience as we maintained revenue, reduced the cash burn, and took restructuring measures to keep the business healthy. I am particularly pleased with DragonWave's ability to continue to attract new customers, with shipments to 14 new customers in the third quarter, 12 of which were located outside of North America.

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