DragonWave Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended November 30, 2014. For the quarter, the company's revenue was $47.3 million compared with $37.9 million in the second quarter of fiscal year 2015 and $22.2 million in the third quarter of fiscal year 2014. Loss before income taxes was $2,934,000 against $5,520,000 a year ago. Net loss applicable to shareholders was $3.8 million or $0.05 per basic and diluted share, compared to $8.9 million or $0.14 per basic and diluted share in the second quarter of this fiscal year and $5.5 million or $0.12 per basic and diluted share in the third quarter of fiscal year 2014. Net cash flow from operating activities was $9,797,000 against $8,291,000 a year ago. Acquisition of property and equipment was $1,311,000 against $416,000 a year ago. Acquisition of intangible assets was $41,000 against $142,000 a year ago.

For the nine months, revenue was $114,024,000 against $72,154,000 a year ago. Loss before income taxes was $17,466,000 against $22,632,000 a year ago. Net Loss applicable to shareholders was $19,252,000 against $22,643,000 a year ago. Basic and diluted net loss per share was $0.29 against $0.55 a year ago. Net cash flow from operating activities was $21,180,000 against $19,843,000 a year ago. Acquisition of property and equipment was $1,311,000 against $416,000 a year ago. Acquisition of intangible assets was $274,000 against $434,000 a year ago.

The company believe that it have the opportunity in fourth quarter to again have sequential revenue growth of up to 10%.