Microwave radio vendor DragonWave said it is making progress and seeing particularly strong growth in India, but its net loss widened year-over-year.
The company’s results for the quarter ended Aug. 31 included revenue of $25.5 million, up from $24.5 million sequentially but down from the $44.2 million it made in the same period last year. DragonWave reported a net loss for the period of $10.5 million, growing from the $1.1 million loss a year ago and the $6.6 million loss in the previous quarter.
Revenue from Nokia Solutions and Networks accounted for 61% of Dragonwave’s revenue for the quarter.
DragonWave said it is “experiencing strong activity” in India, including new orders and being shortlisted as a supplier in a large greenfield build. The company also said it has received an initial order from a major North American carrier’s new project.
“I am pleased that we are making progress on multiple fronts,” said DragonWave President and CEO Peter Allen.
The company added about $23.5 million in cash to its balance sheets through an equity offering that closed in late September.
