DragonWave Falling After Reporting Q1 Earnings

DragonWave DRWI is trading lower on the session following its Q1 earnings announcent. The company reported an EPS of $(0.35) vs $(0.28) estimates and revenues of $13 million vs $12.75 million. DragonWave also guided Q2 revenues $35-$45 million vs $51 milliones estimates. DragonWave President and CEO Peter Allen said, "We recently completed a transformational event for DragonWave - the acquisition of Nokia Siemens Networks' microwave transport business. Nokia Siemens Networks continues to strengthen its position as a leading global supplier of complete solutions for broadband mobile networks. Industry-best packet microwave backhaul from DragonWave is a key component of Nokia Siemens Networks' complete solution for broadband mobile networks. In turn, Nokia Siemens Networks gives DragonWave the leverage of its large direct sales channel and access to its customer base of tier one mobile operators throughout the world." DragonWave is currently trading at $2.99, a loss of $0.49 or 14.08%.