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Dragonwave sees growing demand in India

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.


 

 

ABOUT AUTHOR

Kelly Hill
Kelly Hill
Kelly reports on network test and measurement, as well as the use of big data and analytics. She first covered the wireless industry for RCR Wireless News in 2005, focusing on carriers and mobile virtual network operators, then took a few years’ hiatus and returned to RCR Wireless News to write about heterogeneous networks and network infrastructure. Kelly is an Ohio native with a masters degree in journalism from the University of California, Berkeley, where she focused on science writing and multimedia. She has written for the San Francisco Chronicle, The Oregonian and The Canton Repository. Follow her on Twitter: @khillrcr

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