Ottawa backhaul wireless manufacturer DragonWave Inc. easily surpassed financial analysts' revenue expectations for its third quarter, pulling in $55.8 million largely due to U.S. carrier Clearwire. The consensus among analysts was that the company would hit $49 million for the period ending Nov. 30. “DragonWave delivered solid results again this quarter,” company president and CEO Peter Allen said in a news release. “The company continues to scale the business to meet expanding worldwide demand for our market-leading packet microwave solutions.”
DragonWave'sCanadian customers include Quebecor Inc.'s Videotron cable division, for its upcoming HSPA cellular business, and new wireless provider Wind Mobile of Toronto.
DragonWave is a young company: It had only $10.7 million in revenue for the third quarter a year ago. It's net income for the third quarter was $12.6 million, twice as much as the second quarter. Based on the latest results, the company expects its total revenue for the fiscal year will be $170 million.
It's products include the Horizon Compact and Horizon Quantum micowave systems.