May 6, 2010 / 9:31 PM / 8 years ago

UPDATE 1-DragonWave Q4 profit misses estimates

* Q4 EPS C$0.35 vs. est C$0.36

* Revenue up 463 pct to C$63.8 mln

* Sees Q1 revenue of $50 million

May 6 (Reuters) - DragonWave Inc DWI.TO DRWI.O, a maker of radio transmitters used in cellular networks, posted fourth-quarter profit that missed estimates on higher costs.

For the fourth quarter ended Feb. 28, DragonWave reported net income of C$13.4 million or 35 Canadian cents per share, compared with net loss of C$2.2 million, or 8 Canadian cents per share, last year.

Quarterly revenue increased to C$63.8 million from C$11.3 million. Revenue from customers within North America increased to C$60.9 million from C$7.6 million, last year.

Analysts expected the company to post earnings of 36 Canadian cents a share, on revenue of C$63.5 million, according to Thomson Reuters I/B/E/S.

Expenses at the company more than doubled to C$12.8 million.

For the first quarter of fiscal 2011, it expected revenue of $50 million, the company said.

Shares of DragonWave closed at C$8.26 Thursday on the Toronto Stock Exchange. On Nasdaq, the company’s shares closed at $7.97.

Reporting by Arnika Thakur in Bangalore; Editing by Aradhana Aravindan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below