DragonWave (DRWI) Trims Q1 Revenue Outlook
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DragonWave (NASDAQ: DRWI) announced updated revenue expectations of approximately $27 million for its first quarter of fiscal year 2016, ended May 31, 2015. Revenue is lower than expected because shipments associated with orders received did not make the first quarter cut off. These shipments are now expected to occur in the second quarter fiscal year 2016.
*** Consensus estimates call for Q1 revenue of $32 million.
These updated revenue expectations are preliminary, have not been reviewed by DragonWave's external auditors, and are subject to completion of customary quarterly closing and internal review procedures. Revenue figures are in U.S. dollars.
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