March 5, 2015 / 3:48 PM / 2 years ago

BUZZ-DragonWave Inc: Cuts Q4 revenue forecast

1 Min Read

** Canadian telecom network equipment maker's U.S.-listed shares down 7.7 pct at $0.83; Toronto-listed stock down 6.3 pct at C$1.04

** Company forecasts Q4 revenue of $44 mln, below analysts' average estimate of $49.1 mln

** Company had earlier forecast sequential revenue growth of 10 pct from $47.3 mln in Q3

** Say it expects lower revenue due to uneven timing of installation services revenue, and delay in shipments and equipment orders

** Company forecasts full-year revenue of about $158 mln, below analysts' estimate of $160.3 mln

** Up to Wednesday's close, Toronto-listed stock had fallen nearly 29 pct in the past 12 months

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