DragonWave reported revenue of US$27.2 million for its second quarter fiscal year 2011, ended August 31, 2010, compared with $32.4 million in the second quarter of fiscal year 2010. Net income was $1.2 million or $0.03 per diluted share, compared with net income of $5.7 million or $0.19 per diluted share in the second quarter of fiscal year 2010. Gross margin for the second quarter was 44%, compared with 42% in the second quarter of the prior fiscal year; operating margin was 4% in the quarter, compared with 17% in the second quarter of the prior fiscal year.
Revenue from customers within North America was $20.3 million, compared with $29.1 million in the second quarter of the prior fiscal year. Revenue from customers outside North America was $6.9 million, compared with $3.3 million in the second quarter of the prior fiscal year. DragonWave had two customers that each contributed more than 10% of revenue in the second quarter of fiscal year 2011.
“I am satisfied with our progress in the second quarter in meeting key objectives to strengthen our global market presence, expand our customer and partner base, and to continue to deliver innovative solutions,” said DragonWave President and CEO Peter Allen.
