June 3, 2011 / 1:17 PM / in 7 years

UPDATE 2-DragonWave cuts revenue view on shipment delays, shrs fall

* Now sees Q1 2012 revenue about $11 mln

* Says revenue hurt by shipment delays by a N American customer

* Shares fall 8 pct (Adds details in paragraph 1, share movement)

June 3 (Reuters) - Telecom equipment maker DragonWave Inc cut its first-quarter revenue forecast by 27 percent to $11 million, mainly due to a shipment delay by a North American customer, sending its shares down 8 percent in morning trade.

The company, hit hard as its key customer Clearwire has been struggling to raise cash to complete a high-speed wireless network in the United States, had last month forecast revenue of $15 million. [ID:nN04300614]

DragonWave, however, did not name the North American customer in its statement on Friday.

The company, which makes radio transmitters used in cellular networks, said the customer deferred a significant shipment of equipment.

DragonWave said regulatory delays also affected revenue from a customer in the Middle East.

Shares of Ottawa-based DragonWave were down 7 percent at C$5.63 on the Toronto Stock Exchange in morning trade. Its Nasdaq-listed shares were down 8 percent at $5.76. (Reporting by Amruta Sabnis in Bangalore; Editing by Saumyadeb Chakrabarty and Gopakumar Warrier)

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