DragonWave Announces Revised Revenue Expectations for Fourth Quarter Fiscal
OTTAWA, ONTARIO -- (Marketwire) -- 03/04/13 -- DragonWave Inc.
(TSX:DWI)(NASDAQ:DRWI) a leading global supplier of packet microwave
radio systems for mobile and access networks, announced today revised
revenue expectations for its fourth quarter fiscal year 2013, ended
February 28, 2013, of approximately $30 million. The main area of
shortfall behind the revised revenue guidance is lower revenue from
Nokia Siemens Networks during the fourth quarter when compared to Q3
FY13. These revised revenue expectations are preliminary, have not
been reviewed by DragonWave's external auditors, and are subject to
completion of customary quarterly closing and internal and external
DragonWave also confirmed it has initiated further cost improvement
Figures are in U.S. dollars and in accordance with U.S. generally
accepted accounting principles.
DragonWave(R) is a leading provider of high-capacity packet microwave
solutions that drive next-generation IP networks. DragonWave's
carrier-grade point-to-point packet microwave systems transmit
broadband voice, video and data, enabling service providers,
government agencies, enterprises and other organizations to meet
their increasing bandwidth requirements rapidly and affordably. The
principal application of DragonWave's products is wireless network
backhaul. Additional solutions include leased line replacement, last
mile fiber extension and enterprise networks. DragonWave's corporate
headquarters is located in Ottawa, Ontario, with sales locations in
Europe, Asia, the Middle East and North America. For more
information, visit http://www.dragonwaveinc.com.
Certain statements in this release, including the revised estimate of
revenue for the fourth quarter of fiscal year 2013 provided above,
constitute forward-looking statements or forward-looking information
within the meaning of applicable securities laws. These statements
are subject to certain assumptions, risks and uncertainties,
including confirmation through DragonWave's customary quarterly
closing and internal and external review procedures as indicated
above. Readers are cautioned not to place undue reliance on such
statements. These statements are provided to assist external
stakeholders in understanding DragonWave's expectations as of the
date of this release and may not be appropriate for other purposes.
Actual results, performance, achievements or developments of
DragonWave may differ materially from the results, performance,
achievements or developments expressed or implied by such statements.
Risk factors that may cause the actual results, performance,
achievements or developments of DragonWave to differ materially from
the results, performance, achievements or developments expressed or
implied by such statements can be found in DragonWave's Annual
Information Form dated May 11, 2012 and other public documents filed
by DragonWave with Canadian and United States securities regulatory
authorities, which are available at www.sedar.com and www.sec.gov,
respectively. DragonWave assumes no obligation to update or revise
any forward-looking statements or forward-looking information,
whether because of new information, future events or otherwise,
except as expressly required by law.
613-599-9991 ext 2262
VP Investor Relations
Interprose Public Relations
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