Highlights from 1Q ....Several important ones that suggest that the pps should be much higher....
Key achievements in the quarter include:
DragonWave Harmony Enhanced solution selected for 3G/4G network in India;
Scaled the manufacturing run rate of our Harmony Enhanced product in response to strong market demand;
Received additional multi-million dollar turnkey purchase orders from pan-India broadband service provider;
Received first small-cell order for another Tier 1 North American carrier; and
Small cell trial activity is increasing with fifteen active trials worldwide.
"We are pleased with the increased demand as we move into our second quarter. Momentum is such that we anticipate revenue growth of between 30% and 60% in Q2 relative to Q1. From a full year outlook perspective, the start to the year has not been as strong as expected, but we anticipate solid growth in the second half," said DragonWave President and CEO, Peter Allen.
Cash and cash equivalents totaled $18.9 million at the end of the first quarter of fiscal year 2016, compared to $23.7 million at the end of the fourth quarter of fiscal year 2015.