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DRAGONWAVE PROVIDES UPDATE ON PROGRESS WITH MAJOR CUSTOMER
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5/1/2009 - Ottawa, Canada
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DragonWave Inc. (TSX: DWI) a global supplier of high-capacity, wireless native Ethernet backhaul solutions for mobile and access networks, today announced that it is seeing an overall increase in order activity, and that orders from a major existing North American based customer have accelerated in the last week. Including these recent orders, DragonWave has now received cumulative orders for its Horizon family of products from this customer of over $15 million in its current fiscal year. These orders support the deployment of a nationwide wireless telecommunications network by this customer. Shipments, and the associated revenue, are all expected to be in the current fiscal year.
“We are delighted with this development in our business and we hope this gives us the opportunity to springboard to even further growth in the future.” said Peter Allen, Chief Executive Officer of DragonWave
FORWARD-LOOKING STATEMENTS
Certain statements in this release, including the guidance provided above, constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws. These statements are subject to certain assumptions, risks and uncertainties. Readers are cautioned not to place undue reliance on such statements. Risk factors that may cause the actual results, performance, achievements or developments of DragonWave to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements can be found in the public documents filed by DragonWave with Canadian securities regulatory authorities. In particular, actual results could differ materially from those expressed in any forward-looking statements. For a list of risk factors, please refer to DragonWave's Annual Information Form dated May 7, 2008. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
DragonWave Incorporated
DragonWave® is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave’s carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The principal application of DragonWave’s products is wireless network backhaul. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. DragonWave’s corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, Asia, the Middle East and North America.
DragonWave® and Horizon® are registered trademarks of DragonWave Inc.
The company's Web site is http://www.dragonwaveinc.com.
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