May 3, 2012 / 12:07 PM / 5 years ago

UPDATE 1-DragonWave posts 6th consecutive loss

* Q4 loss/shr $0.38 vs loss/shr $0.25 yr ago

* Q4 rev down 39 pct to $9.2 mln

* To pay 11.7 mln euros cash for Nokia Siemens Networks microwave business

May 3 (Reuters) - Wireless broadband network equipment maker DragonWave Inc posted its sixth straight quarterly loss as revenue from customers in North America fell sharply.

The company also amended its deal to buy Nokia Siemens Network’s microwave business. It will now pay about 11.7 million euros ($15.39 million) - up from 10 million euros decided earlier - and issue shares for about 5 million euros.

The capital asset lease for the deal was reduced to 3.6 million euros from 5 million euros and the two companies eliminated sales-based earn-out payments, which would have raised the value of the deal by about 80 million euros.

DragonWave said it now expects first quarter revenue to be between $12 to $14 million.

Net loss fell to $13.4 million, or 38 cents per share, for the fourth quarter from $18.9 million, or 25 cents per share, a year earlier.

Revenue fell 39 percent to $9.2 million for the quarter ended Feb. 29. Revenue from customers in North America almost halved to $4.8 million.

DragonWave had forecast fourth-quarter revenue of about $9.4 million in March.

Analysts on average were expecting a loss of 23 cents per share on revenue of $9.4 million, according to Thomson Reuters I/B/E/S.

Shares of Ottawa-based DragonWave closed at C$3.73 on Wednesday on the Toronto Stock Exchange.

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