* Posts Q4 loss on shrinking revenue
* Dependence on Clearwire weighs
* Says expects Q1 revenue of $15 million.
(In U.S. dollars unless noted)
ORLANDO, Florida, May 4 (Reuters) - Telecom equipment maker DragonWave Inc DWI.TO lost money for the second straight quarter, its fate still tied to a U.S. customer struggling to raise cash to build its network.
DragonWave, which makes radio transmitters used in cellular networks, posted a net loss of $8.9 million, or 25 cents per share, on revenue of $15.1 million in its fourth quarter.
That compared with a profit of 34 cents a share on revenue of $61 million a year ago.
Analysts on average had expected DragonWave to lose 16 cents per share on revenue of C$15.2 million, according to Thomson Reuters I/B/E/S.
DragonWave is banking on booming demand for mobile data to make its high-capacity packet backhaul — which aids the movement of vast amounts of data through wireless networks — an ingredient in network upgrades worldwide.
But it has struggled to shake dependence on Clearwire, which has scaled back as it seeks billions of dollars to complete a high-speed wireless network in the United States. [ID:nN08210881]
“We made progress this quarter to broaden our global market presence to address the burgeoning growth of data traffic for mobile operators,” DragonWave CEO Peter Allen said in an earnings release on Wednesday.
Revenue from customers outside North America increased to $4.9 million, DragonWave said.
The company, which surprised analysts last quarter with a tepid $15 million sales outlook, said it again similar revenue in the current quarter.
In April, Clearwire and its majority owner Sprint Nextel (S.N) reached a deal for $1 billion in annual funding, though analysts shrugged it off as insufficient and cash-strapped Clearwire still needs billions of dollars in funding if it is to finish building its high-speed network. (Reporting by Alastair Sharp; editing by Frank McGurty)