DragonWave Inc. saw its most recent quarterly revenues plunge year-over-year, to $22.2 million from $38.5 million during the same period last year. Profits improved, however, with a net loss for the quarter of $5.5 million compared to $13.9 million in the previous year’s fiscal third quarter.
Dragonwave’s revenues have been on a mostly-downward trend since hitting a record high of more than $44 million a year and a half ago, according to the company’s quarterly presentation available here.
The microwave packet backhaul supplier said that it signed a new supply agreement with an unnamed “major U.S.-based carrier” on Jan. 10 and that deployments are expected during the first half of this year.
“Network rollout plans in the United States and India are at the core of our future growth strategy,” said Dragonwave President and CEO Peter Allen, who noted that the company raised cash this fall and has extended its credit in order to position itself for opportunities in those markets.
Revenue from Nokia Solutions and Networks accounted for 51% of Dragonwave’s revenue during the quarter.
