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.
Revenue for the full fiscal 2015 is expected to come in at $158 million, still a 75 per cent increase over fiscal 2014.