January 7, 2010 / 10:02 PM / 8 years ago

UPDATE 1-DragonWave Q3 profit tops estimates; rev view raised

* Revenue up 421 pct

* Sees FY 2010 revenue about C$170 million

Jan 7 (Reuters) - Canada’s DragonWave Inc DWI.TO DRWI.O, a maker of radio transmitters used in cellular networks, posted a quarterly profit that handily beat market estimates, driven by strong demand in North America, and it raised its revenue outlook for fiscal 2010.

For the third quarter, the company reported net income of C$12.6 million, or 37 Canadian cents a share, compared with a loss of C$221,000, or 1 Canadian cent a share, a year earlier.

Revenue rose more than five fold to C$55.8 million, with the North American market adding C$52.7 million to the top line.

Analysts on average were expecting earnings of 24 Canadian cents a share on revenue of C$49.3 million, according to Thomson Reuters I/B/E/S.

The company also raised its revenue estimates by C$20 million to C$170 million for the year

Shares of the Ottawa-based company closed at C$12.62 Thursday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Anil D’Silva)

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