DragonWave Inc.
TSX : DWI

DragonWave Inc.

May 01, 2009 16:07 ET

DragonWave Provides Update on Progress With Major Customer

OTTAWA, CANADA--(Marketwire - May 1, 2009) - 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.

About DragonWave

DragonWave™ is a leading provider of high-capacity wireless Ethernet equipment used in emerging IP networks. DragonWave designs, develops, and markets carrier-grade microwave radio frequency networking equipment that transmits broadband voice, video and data. DragonWave's products, which are based on a native Ethernet platform, function as a wireless extension to an existing fibre-optic core telecommunications network. The principal application for DragonWave's products is the backhaul function in a wireless communications network. Additional applications for DragonWave's products include point-to-point transport in private networks, including municipal and enterprise networks. DragonWave's corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, Middle East and North America. The company's Web site is http://www.dragonwaveinc.com

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.

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