DragonWave reported revenue for the third quarter of fiscal 2010, ended November 30, 2009, of $55.8 million, compared with $10.7 million in the third quarter of fiscal 2009. Revenue from customers within North America increased to $52.7 million, compared with $6.4 million in the third quarter of the prior fiscal year.
Net income doubled to $12.6 million or $0.37 per diluted share for the third quarter of fiscal 2010, compared with $6.3 million or $0.21 per diluted share in the second quarter of 2010 (Canadian generally accepted accounting principles (GAAP) and are reported in Canadian dollars). Gross margin for the third quarter increased to 43%, from 42% in the prior quarter of fiscal 2010, while operating margin increased to 23%, from 18% in the prior quarter.
“DragonWave delivered solid results again this quarter,” said DragonWave President and CEO Peter Allen. “The Company continues to scale the business to meet expanding worldwide demand for our market-leading packet microwave solutions.”http://www.dragonwaveinc.com
