DragonWave (DRWI) Cuts Q4 Outlook; Affirms Cost-Cutting Plans

March 4, 2013 6:05 AM EST
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DragonWave Inc. (Nasdaq: DRWI) announced 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 review procedures.

*** The Street is modeling revs of $43.97 million.

DragonWave also confirmed it has initiated further cost improvement measures.

Figures are in U.S. dollars and in accordance with U.S. generally accepted accounting principles.

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