DragonWave Inc. (DRWI) - NASDAQ
  • Mon, Jul. 18, 3:00 PM
    | Mon, Jul. 18, 3:00 PM
  • Wed, Jul. 13, 6:23 PM
    • Packet microwave radio system supplier DragonWave (DRWI -2.2%) posted Q1 earnings where its net loss narrowed Y/Y though revenues fell by more than 50%. and declined slightly sequentially as well.
    • Revenue from the company's Nokia channel fell to 38% of total, vs. last quarter's 47%. Gross profit before inventory provisions was 31%, vs. last quarter's 22.3%.
    • Revenue breakout: Hardware and other, $8.6M (down 63.4%); Services, $3.9M (up 41.3%).
    • Conference call to come tomorrow at 8:30 a.m. ET.
    • Press Release
    | Wed, Jul. 13, 6:23 PM
  • Wed, May 18, 5:57 PM
    • RF backhaul firm DragonWave (NASDAQ:DRWI) has tanked in late trading, down 21.6%, after revenues crumpled in fiscal Q4 earnings with the loss of Nokia as a key channel source via Nokia's merger with Alcatel.
    • Revenue was down 73% overall; revenue from the Nokia channel dropped to $37.6M for the fiscal year from a previous $84.3M.
    • "The end of our relationship with Nokia for forward product has required a restructuring of our operations which is under way," says DragonWave CEO Peter Allen.
    • Revenue breakout: Hardware and other, $8.6M (down 79.4%); Services, $3.4M (up 64.8%).
    • Conference call to come tomorrow at 8:30 a.m. ET.
    • Press Release
    | Wed, May 18, 5:57 PM
  • Tue, May 10, 12:47 PM
    | Tue, May 10, 12:47 PM
  • Thu, Apr. 14, 12:45 PM
    | Thu, Apr. 14, 12:45 PM | 3 Comments
  • Thu, Apr. 7, 12:45 PM
    | Thu, Apr. 7, 12:45 PM | 1 Comment
  • Thu, Apr. 7, 9:14 AM
    | Thu, Apr. 7, 9:14 AM | 8 Comments
  • Tue, Apr. 5, 12:45 PM
    | Tue, Apr. 5, 12:45 PM | 10 Comments
  • Wed, Mar. 30, 12:46 PM
    | Wed, Mar. 30, 12:46 PM | 1 Comment
  • Thu, Jan. 28, 11:48 AM
    • To regain compliance with the Nasdaq's $1.00 minimum bid rule, DragonWave's (NASDAQ:DRWI) board has authorized a 1:25 reverse split. The company expects to begin trading on a split-adjusted basis on Feb. 4.
    • Shares have fallen to $0.09 following the news. DragonWave's market cap stands at $8M.
    | Thu, Jan. 28, 11:48 AM | 3 Comments
  • Fri, Jan. 22, 3:30 PM
    • Plenty of tech names crushed over the first 20 days or so of January are sharply higher as the Nasdaq (up 2.4%) continues rebounding from Wednesday's intraday lows. Many still have sizable YTD losses.
    • Big gainers among telecom equipment/component firms: Optical component vendors Oclaro (OCLR +9.5%) and NeoPhotonics (NPTN +6%), mobile infrastructure/services giant Ericsson (ERIC +6.2%), optical networking hardware vendor Infinera (INFN +5.2%), and microcap RF backhaul hardware firms DragonWave (DRWI +24.3%) and Ceragon (CRNT +10%). Ericsson underperformed yesterday following a pre-earnings Goldman downgrade.
    • Among enterprise tech firms: Threat-prevention technology and services provider FireEye (FEYE +7.7%), big data software provider Hortonworks (HDP +16.1%), security software/services firm Rapid7 (RPD +9.1%), data governance software firm Varonis (VRNS +5.6%), and flash storage array vendor Violin Memory (VMEM +13.6%). FireEye fell slightly yesterday after making a Q4 pre-announcement and announcing a $200M+ acquisition. Hortonworks was crushed on Tuesday after a Q4 pre-announcement and stock offering shelf registration.
    • Among chip industry firms: RF chipmaker Skyworks (SWKS +6%), audio codec developer Cirrus Logic (CRUS +7.3%), smart TV/home automation chipmaker Sigma Designs (SIGM +6.5%), FPGA/sensor hub maker QuickLogic (QUIK +9.2%), and chip equipment firms Axcelis (ACLS +4.9%) and Aixtron (AIXG +4.9%). Major Cirrus/Skyworks client Apple reports on Tuesday afternoon.
    • Also up big: 3D printer maker 3D Systems (DDD +7.1%), Russian search leader Yandex (YNDX +7.5%), mortgage origination software firm Ellie Mae (ELLI +6.4%), Chinese solar firm Yingli (YGE +11.4%), and SMB Web services provider Wix.com (WIX +5.3%).
    • Previously covered: Rosetta Stone, Live Ventures, HP Enterprise, Mitel, Mobileye, Qorvo, SunPower, SolarCity
    | Fri, Jan. 22, 3:30 PM | 6 Comments
  • Dec. 16, 2015, 10:20 AM
    • Amid widespread solvency fears, DragonWave (NASDAQ:DRWI) has overhauled its reseller deal with Nokia (NYSE:NOK), while keeping the companies' "global frame agreements" in place.
    • The specifics: 1) Nokia will remain DragonWave's main reseller channel for its Harmony Radio products. 2) DragonWave will continue providing software maintenance and hardware support to Nokia for joint product deployments. 3) The companies "may mutually agree on a case by case basis to address additional future specific customer requests of new DragonWave products through Nokia."
    • The "Nokia channel" accounted for 37% of DragonWave's August quarter revenue of $26.9M, and 50% of its FQ1 revenue. The deal restructuring comes as Nokia gets set to merge with Alcatel-Lucent, a move that had stoked fears Nokia would abandon DragonWave's RF backhaul offerings for Alcatel's.
    • DragonWave's market cap remains below $9M.
    | Dec. 16, 2015, 10:20 AM | 1 Comment
  • Dec. 4, 2015, 2:46 PM
    • Beaten-down DragonWave (NASDAQ:DRWI) is up strongly on volume of 2.35M shares, soundly above a 3-month daily average of 409K. No major news has hit the wires.
    • The gains come three days after the RF backhaul equipment firm announced a Jan. 26 special meeting to lay the groundwork for a reverse split. Shares -84% YTD.
    | Dec. 4, 2015, 2:46 PM | 1 Comment
  • Dec. 2, 2015, 10:20 AM
    • DragonWave (NASDAQ:DRWI) is hosting a special meeting on Jan. 26 to approve a resolution to "consolidate" the company's common shares, and thereby allow it to maintain compliance with the Nasdaq's $1.00 minimum bid rule.
    • The hard-luck mobile backhaul equipment provider's shares have fallen to $0.11. The fell as low as $0.07 last week before bouncing a little.
    | Dec. 2, 2015, 10:20 AM | 2 Comments
  • Nov. 23, 2015, 3:18 PM
    • Following today's selloff, DragonWave's (DRWI -14.6%) market cap is down to $6.2M. 576K shares have been traded thus far, topping a 3-month daily average of 308K.
    • The RF backhaul hardware firm is now valued at a fraction of the $13.1M cash balance (down $5.8M Q/Q) it had at the end of August. Shares have been hammered this year as sales shortfalls fueled solvency fears.
    | Nov. 23, 2015, 3:18 PM
  • Oct. 15, 2015, 10:36 AM
    • DragonWave (NASDAQ:DRWI) has made fresh lows after reporting FQ2 revenue that was slightly below guidance (provided in a Sep. 4 warning) of $27.5M, and down 29% Y/Y. Notably, unlike in prior quarters, no guidance was provided in the earnings release.
    • The "Nokia channel" accounted for 37% of FQ2 revenue, down sharply from FQ1's 52% and the year-ago period's 60%. DragonWave insists the product issues (related to the Harmony Enhanced backhaul radio) that weighed on FQ2 sales - shipments to a major Indian client were suspended - have been resolved.
    • Gross margin was 14.8% vs. 21.1% in FQ1 and 15.5% a year ago. GAAP operating expenses fell by $1.7M Y/Y to $10.5M. DragonWave's cash balance fell by $5.8M Q/Q to $13.1M. The company's market cap is currently at $11.5M.
    • FQ2 results, PR
    | Oct. 15, 2015, 10:36 AM
Company Description
DragonWave, Inc. provides packet microwave solutions that drive next-generation IP networks. Its carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their... More
Sector: Technology
Industry: Communication Equipment
Country: Canada