DragonWave Inc. (NASDAQ:DRWI) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
DragonWave Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.17 in the quarter versus EPS of $-0.03 in the year-earlier quarter.
Revenue: Rose 89.13% to $24.53 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: DragonWave Inc. reported adjusted EPS loss of $0.17 per share. By that measure, the company beat the mean analyst estimate of $-0.24. It missed the average revenue estimate of $34.94 million.
Quoting Management: “We have made progress on multiple fronts. We are working hard with Nokia Siemens Networks to build the sales funnel for microwave, progressing our direct relationships particularly in the United States and India, advancing in the important area of small cell backhaul, and our operating expenses are declining as we complete our integration and restructuring activities” said DragonWave President and CEO, Peter Allen. “We will continue to have a strong focus on revenue growth and improving our margins.”
Key Stats (on next page)…