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DragonWave   Revenue from the Nokia channel decreased

DragonWave Q3 2017 revenue down to $10.2 million from $13.2 million

DragonWaveDragonWave announced financial results for the third quarter of fiscal year 2017.

Revenue was $10.2 million, compared with $13.2 million in the second quarter of fiscal year 2017. Revenue from the Nokia channel decreased to 22% of total revenue, versus 24% in the second quarter of fiscal year 2017.

READ MORE DragonWave Q3 2015 revenue $47.3 million

Gross profit before inventory provisions was 28.3% in the third quarter of fiscal year 2017, compared to 31.9% in the second quarter of fiscal year 2017.

There was a $0.2 million inventory provision taken in the third quarter of fiscal year 2017, while there was a $0.4 million inventory provision taken in the second quarter of fiscal year 2017.

Operating expenses increased by $0.1 million from $6.9 million in the second quarter of fiscal year 2017 to $7.0 million in the third quarter of the current fiscal year.

Net loss attributable to shareholders in the third quarter of fiscal year 2017 was ($4.1) million or ($0.72) per basic and diluted share. This compares to a net loss attributable to shareholders of ($3.9) million or ($0.96) per basic and diluted share in the second quarter of fiscal year 2017.

Cash and cash equivalents totaled $4.5 million at the end of the third quarter of fiscal year 2017, compared to $7.5 million at the end of the second quarter of fiscal year 2017.




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