Citing a number of reasons, Ottawa-based DragonWave announced Thursday it is lowering its revenue projections for the fourth quarter of fiscal 2015, which ended Feb. 28.
The wireless broadband component supplier said uneven timing of installation services revenue, shipments that did not make the Q4 cutoff and delays in equipment orders are all playing a role in the downgrade. The equipment orders are now expected to come in fiscal 2016.
The company is projecting fourth-quarter revenue of $44 million. Third-quarter revenue, released Jan. 14, was $47.3 million, and CEO Peter Allen said at the time there was opportunity for a further 10 per cent growth in the fourth quarter.
OBJ360 (Sponsored)
Celebrating 10 years of the Ottawa REDBLACKS
Ottawa’s CFL team is celebrating its 10 year anniversary in 2024. Roger Greenberg tells us what it took to make the CFL’s capital city team a success.
Navigating innovation often means stepping off the beaten path to ensure success, especially when it comes to intellectual property in tech. That’s why Swidget decided to partner with the IP
Revenue for the full fiscal 2015 is expected to come in at $158 million, still a 75 per cent increase over fiscal 2014.