Telecom Lead America: Wireless broadband network
equipment provider DragonWave’s fourth quarter revenue decreased 39 percent to
$9.2 million.
Net loss fell to $13.4 million for the fourth quarter
from $18.9 million a year earlier.
Revenue from customers in North America almost halved to
$4.8 million.
DragonWave had forecast fourth-quarter revenue of about
$9.4 million in March.
The company will pay 11.7 million euros cash for Nokia
Siemens microwave business – up from 10 million euros decided earlier – and
issue shares for about 5 million euros, as per the amended agreement.
The capital asset lease for the deal was reduced to 3.6
million euros from 5 million euros and the two companies eliminated sales-based
earn-out payments, which would have raised the value of the deal by about 80
million euros.
DragonWave said it now expects first quarter revenue to
be between $12 to $14 million.