DragonWave Raises Q1 Revenue Growth Outlook; Stock Surges

(RTTNews) - DragonWave Inc. (DRWI, DWI.TO), a supplier of packet microwave radio systems for mobile and access networks, said that it raised its revenue expectations for its first quarter fiscal year 2015.

The company now expects revenue for the first quarter to show growth of approximately 60% over the revenue reported in the fourth-quarter of fiscal 2014. Previously, the company anticipated first-quarter revenue growth of approximately 50% over the fourth-quarter of fiscal year 2014. Analysts polled by Thomson Reuters expect the company to report revenues of $26.29 million for the first-quarter. Analysts' estimates typically exclude special items.

DRWI, which closed at $1.22 on Tuesday, is up 20.49 percent in pre-market activity.