DragonWave (DRWI) Rallying Amid Much Better-Than-Expected Q3 Results
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DragonWave (NASDAQ: DRWI) shares are bestriding the charts after the companies third quarter results were announced yesterday after the market closed. Shares of DragonWave are up about 6% today, most recently trading at $12.89.
The company reported revenues of $55.8 million, a 421% increase over Q309, and compared to the analyst consensus of $48.11 million. Additionally, the company had an EPS of $0.37 for Q310, versus the Street estimate of $0.21.
The company also issued some impressive guidance: sees FY10 sales of $170 million, which compares to the Street estimate of $151.55 million and versus the $43.33 million reported last year.
DragonWave specializes in high-packet microwave solutions for next-generation IP networks. Microwave communications systems transport large amounts of mobile services, and some believe that they are as
important as optical communications systems. Basically, they are a key component in transferring multimedia data services for wireless customers, and beyond.
Dragonwave was selected in September to provide Unwired Australia with systems to assist in the development of Australia's first 4G mobile WiMax network. They were also selected by Yota to provide 4G solutions in Russia extending beyond St. Petersburg and Moscow.
Revenues for the company have been steadily growing as well, from $24.17 million for FY08, 43.34 million for FY09, and exceeding that for Q310 alone.
With Sprint (NYSE: S) touting their reliance on 4G in the coming year, and an ever expanding foray into the smartphone, and now super-smartphone, market, DragonWave may be one to watch.
The company reported revenues of $55.8 million, a 421% increase over Q309, and compared to the analyst consensus of $48.11 million. Additionally, the company had an EPS of $0.37 for Q310, versus the Street estimate of $0.21.
The company also issued some impressive guidance: sees FY10 sales of $170 million, which compares to the Street estimate of $151.55 million and versus the $43.33 million reported last year.
DragonWave specializes in high-packet microwave solutions for next-generation IP networks. Microwave communications systems transport large amounts of mobile services, and some believe that they are as
important as optical communications systems. Basically, they are a key component in transferring multimedia data services for wireless customers, and beyond.
Dragonwave was selected in September to provide Unwired Australia with systems to assist in the development of Australia's first 4G mobile WiMax network. They were also selected by Yota to provide 4G solutions in Russia extending beyond St. Petersburg and Moscow.
Revenues for the company have been steadily growing as well, from $24.17 million for FY08, 43.34 million for FY09, and exceeding that for Q310 alone.
With Sprint (NYSE: S) touting their reliance on 4G in the coming year, and an ever expanding foray into the smartphone, and now super-smartphone, market, DragonWave may be one to watch.
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