DragonWave Inc. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 30, 2012; Provides Sales Guidance for the Fourth Quarter of Fiscal Year 2013; Reports Impairment Loss for the Third Quarter Ended November 30, 2012
For the nine months, the company's revenue was $95.6 million compared with $36.5 million for the first nine months of 2012. Loss before income taxes was $28,254,000 against $21,739,000 a year ago. Net loss applicable to shareholders was $27.6 million or $0.74 per basic and diluted share, compared with $20.1 million or $0.57 per basic and diluted share for the first nine months of fiscal 2012. Net cash used in operating activities was $13,996,000 against $28,314,000 a year ago. Acquisition of property and equipment was $1,585,000 against $943,000 a year ago. Acquisition of intangible assets was $1,040,000 against $494,000 a year ago.
The company expects revenue for the fourth quarter of fiscal year 2013 to be in the range of $40 million to $45 million.
For the quarter, the company's impairment of intangible assets was $4,407,000.