Wed, May 13, 2:57 PM| Comment!
Tue, May 12, 6:34 PM
- Though it beat FQ4 estimates, DragonWave (NASDAQ:DRWI) is guiding for FQ1 revenue of $30M-$33M, well below a 2-analyst $43.3M consensus.
- CEO Peter Allen: "[W]e expect double-digit year-over-year revenue growth in fiscal year 2016 and the strongest contribution to revenue growth in fiscal year 2016 is expected to come from expanding direct business with current and new Tier one mobile operators." The FY16 (ends Feb. '16) revenue growth consensus is currently at 31.4%.
- Financials: Gross margin rose to 19.4% from FQ3's 16.3% and the year-ago period's 14.5%. GAAP operating expenses fell by $500K Y/Y to $11.3M. The "Nokia channel" accounted for 46% of FQ4 sales. DragonWave ended FQ4 with $23.7M in cash (down from $29.5M at the end of FQ3), $32.4M in debt, and a $1.2M warrant liability.
- For now DragonWave is down just 1.5% AH to $0.659. A lot of bad news has already been priced in.
- FQ4 results, PR
Tue, May 12, 5:04 PM
Thu, Mar. 5, 7:40 AM
- DragonWave (NASDAQ:DRWI) sees Q4 revenue of $44M vs. $52M consensus.
- Sees FY revenue of $158M vs. $161M consensus.
- "Revenue is lower than expected because of the uneven timing of installation services revenue, shipments that did not make the Q4 cut off, and delays in equipment orders, which are now expected to be received in fiscal year 2016."
- Shares -3.4% premarket.
- Source: Press Release
Fri, Jan. 30, 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.
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.
Tue, Jan. 13, 5:09 PM
Mon, Jan. 12, 5:35 PM
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
Oct. 8, 2014, 5:05 PM
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
Jul. 9, 2014, 5:11 PM
Jun. 4, 2014, 10:01 AM| Comment!
May 14, 2014, 5:24 PM
May 7, 2014, 12:30 PM
- Aviat (AVNW -25.5%) badly missed FQ3 estimates and (citing poor visibility) declined to provide FQ4 guidance. The company also stated its cash balance fell by $17.2M Q/Q to $47.5M, and that it's addressing liquidity issues by "taking steps" to improve its cost structure and working capital management.
- On the CC (transcript), Aviat noted African sales fell 42% Y/Y, something it blames on weak carrier spending. Nonetheless, the company's overall book-to-bill was "substantially above 1."
- Other providers of microwave/backhaul hardware for carriers are also selling off on yet another rough day for high-beta tech stocks. UBNT -3.3%. CRNT -4.5%. DRWI -5.1%.
- Ubiquiti and Ceragon report tomorrow, and DragonWave on May 14.
Apr. 21, 2014, 12:10 AM
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