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DragonWave Inc. (DRWI)

- NASDAQ
  • Yesterday, 4:41 PM
    • Though Aviat (NASDAQ:AVNW) beat FQ2 estimates, it's guiding for FQ3 revenue of $75M-$80M, well below a three-analyst $92.2M consensus. That led shares to drop 7.9% today to $1.28.
    • The RF backhaul hardware vendor says it expects "lower revenue in North America following higher than anticipated revenue contribution in the second quarter of fiscal 2015," and doesn't expect an African recovery until later in FY15.
    • North American revenue rose 31% Y/Y in FQ2 to $44.2M; international revenue fell 7% to $48.3M. Aviat's cash balance fell by $3.7M Q/Q to $38.7M.
    • Peers followed Aviat lower: DragonWave (NASDAQ:DRWI) fell 4.7% to $0.80 and Ceragon (NASDAQ:CRNT) fell 5.1% to $0.88. Both companies made new 52-week lows.
    | Comment!
  • Wed, Jan. 14, 12:28 PM
    • Up in AH trading yesterday after beating FQ3 revenue estimates (while posting in-line EPS) and guiding in-line DragonWave (NASDAQ:DRWI) is now off sharply.
    • Shares are $0.06 above a 52-week low of $0.88, and trade for only 0.3x estimated FY16 (ends Feb. '16) sales.
    | 2 Comments
  • Tue, Jan. 13, 6:10 PM
    • DragonWave (NASDAQ:DRWI) CEO Peter Allen: "As we look forward, we believe that we have the opportunity in Q4 to again have sequential revenue growth of up to 10%." 10% Q/Q growth would yield revenue of $52M, matching consensus.
    • FQ3 gross margin was 16.3%, up from 15.5% in FQ2 and 11.1% a year ago. GAAP opex fell by $400K Y/Y to $12.2M. The "Nokia channel" accounted for 50% of revenue, down from 60% in FQ2 and 51% a year ago.
    • The RF backhaul hardware vendor ended FQ3 with $29.5M in cash, down from $33.6M at the end of FQ2. Long-term debt totaled $26.6M, and warrant liability $2.2M.
    • DRWI +1% AH. FQ3 results, PR.
    | Comment!
  • Tue, Jan. 13, 5:09 PM
    • Dragonwave (NASDAQ:DRWI): Q3 EPS of -$0.05 in-line.
    • Revenue of $47.3M (+113.4% Y/Y) beats by $1.13M.
    • Shares +6.9% AH.
    • Press Release
    | 1 Comment
  • Mon, Jan. 12, 5:35 PM
  • Nov. 25, 2014, 9:24 AM
    • A tier-1 North American mobile carrier has placed over $10M worth of orders for DragonWave's (NASDAQ:DRWI) Horizon Compact+ and Horizon Quantum wireless backhaul systems to support the expansion of its 4G network.
    • DragonWave notes over half the orders are tied to engineering planning/installation services. "These contracts represent a significant increase in our services business," says CEO Peter Allen.
    • DragonWave rallied three weeks ago after announcing a Peruvian deal.
    | 3 Comments
  • Nov. 5, 2014, 3:08 PM
    • Peruvian Wi-Fi service provider WIGO is using DragonWave's (NASDAQ:DRWI) Horizon Quantum and Compact+ microwave radios to interconnect base stations and MPLS routing nodes on its network. (PR)
    • The announcement comes two weeks after DragonWave disclosed it had received follow-on orders from a major Indian carrier.
    | Comment!
  • Oct. 8, 2014, 5:40 PM
    • Though it missed FQ2 EPS estimates and only slightly beat on revenue, DragonWave (NASDAQ:DRWI) is guiding for FQ3 revenue to be up 20%-30% Q/Q. That puts it in a range of $45.5M-$49.3M, soundly above a $41.1M consensus.
    • The "Nokia channel" accounted for 60% of FQ2 sales vs.61% in FQ1. One other customer (not named) also accounted for over 10% of revenue.
    • Gross margin was 15.5%, up from 11% a year ago but down from 20.5% in FQ1 and driving the EPS miss. GM would've been 18.8% if not for a $1.2M inventory charge. GAAP opex fell 2% Y/Y to $12.2M.
    • Thanks to a recent stock/warrant offering, the mobile backhaul equipment vendor ended FQ2 with $33.6M in cash, up from $15.6M at the end of FQ1.
    • FQ2 results, PR
    | 1 Comment
  • Oct. 8, 2014, 5:05 PM
    • Dragonwave (NASDAQ:DRWI): FQ2 EPS of -$0.14 misses by $0.06.
    • Revenue of $37.9M (+48.9% Y/Y) beats by $0.85M.
    • Press Release
    | Comment!
  • Jul. 25, 2014, 12:45 PM
    | 2 Comments
  • Jul. 25, 2014, 10:12 AM
    • DragonWave (NASDAQ:DRWI) is selling 13.85M stock/warrant units for C$1.80 apiece. The price is 10% below the Thursday Toronto closing price for DragonWave shares.
    • Each unit consists of one share and 0.5 warrants, with each full warrant providing the right to buy a share at C$2.25. Underwriters have an option to buy an additional 15% of the issue.
    • Gross proceeds will total C$25M ($23.1M). The company previously said it was looking to raise C$21.5M.
    | Comment!
  • Jul. 24, 2014, 6:37 PM
    • DragonWave (NASDAQ:DRWI) plans to sell C$21.5M ($20M) worth of stock and warrants through a public offering. The offering will consist of units featuring one share and 0.5 warrants. Each warrant can be converted into a share at a specified price.
    • The mobile backhaul hardware vendor had $15.6M in cash as of May 31, and $17.5M in debt.
    • Shares have been halted.
    | 3 Comments
  • Jul. 14, 2014, 12:47 PM
    | 1 Comment
  • Jul. 11, 2014, 9:27 AM
    • T.D. Securities has upgraded DragonWave (DRWI) to Hold two days after the company beat FQ1 estimates and issued stronger-than-expected FQ2 guidance.
    • Boutique i-bank H.C. Wainwright upgraded DragonWave a week before earnings.
    • Shares +1.3% premarket.
    | 1 Comment
  • Jul. 9, 2014, 5:51 PM
    • DragonWave (DRWI) expects FQ2 revenue to be up 25%-40% Q/Q in FQ2. That spells a range of $36M-$40M, soundly above a $34M consensus.
    • Gross margin rose to 20.5% in FQ1 from 14.5% in FQ4 and 11.5% a year ago. Opex -10% Y/Y to $12.1M.
    • The "Nokia channel" accounted for 61% of revenue vs. 68% in FQ4 and 57% a year ago. Cash/equivalents fell to $15.6M at the end of FQ1 from $19M at the end of FQ4.
    • FQ1 results, PR
    | 1 Comment
  • Jul. 9, 2014, 5:34 PM
    | 1 Comment
DRWI vs. ETF Alternatives
Company Description
DragonWave Inc is a provider of high-capacity packet microwave solutions that drive next-generation IP networks. Its products are wireless network backhaul.
Sector: Technology
Country: Canada