October 5, 2011 / 9:49 PM / 7 years ago

UPDATE 1-DragonWave posts fourth straight quarterly loss

* DragonWave struggles amid Clearwire standstill

* 2 customers each account for more than 10 pct of sales (In U.S. dollars)

TORONTO, Oct 5 (Reuters) - Canadian telecom equipment maker DragonWave Inc DWI.TO DRWI.O posted a fourth straight quarterly loss on Thursday but said revenue rose from the previous quarter.

DragonWave - which uses microwave technology to move data between cellular towers and the devices they serve more cheaply than fibre - is struggling to cover the hole in its business left by a cutback in spending at U.S.-based customer Clearwire CLWR.O.

The Ottawa-based company said its net and comprehensive loss applicable to shareholders was $2.2 million, or 6 cents per diluted share, on revenue of $13.6 million.

The loss didn’t include a one-time gain in the quarter of $6.2 million, or 17 cents per diluted share.

Analysts had on average expected DragonWave to lose 21 cents a share on revenue of $12.8 million, according to Thomson Reuters I/B/E/S.

Revenue in the previous quarter was $11 million, and in the year-before it was $20.3 million.

The company said two customers each accounted for more than 10 percent of sales in the quarter. It said it expects revenues for the current quarter of $12 million to $15 million. (Reporting by Alastair Sharp; editing by Peter Galloway)

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