DragonWave Inc. Posts Mixed Earnings (DRWI)

DragonWave Inc.

reports Q3 earnings of $0.03. versus consensus of $0.02. DragonWave Inc. reports revenues of $27.2 million versus consensus of $31.05 million. The company expects revenue for the third quarter of fiscal year 2011 to be approximately $30 million. "I am satisfied with our progress in the second quarter in meeting key objectives to strengthen our global market presence, expand our customer and partner base, and to continue to deliver innovative solutions," said DragonWave President and CEO Peter Allen. He added, "The industry-leading Horizon Quantum shipped commercially and contributed to revenue for the first time in the quarter. In addition, we generated revenue from our OEM partnership for the first time this quarter, and we are close to adding another OEM partner. The global demand for mobile broadband Internet services continues to expand - we are still in the early stages of the growth potential for DragonWave mobile backhaul solutions in markets throughout the world." Shares are higher by 8.26% in the after-hours.