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    Date: Friday 10 Oct 2008

    LONDON (ShareCast) - Wireless networks supplier DragonWave has reported a big increase in second quarter losses as its hikes sales and marketing spend to support the international business.

    The loss from operations for the three months ended 31 August was $2.8m versus a loss of $1.8m a year ago on revenue up 7% to $10.6m. The net loss for the quarter was $1.7m versus $2.1m this time last year.

    Expenses increased from $5.4m to $6.5m due to increased sales and marketing activities required to support the growing international business, and R&D associated with the engineering activity related to the release of new product platforms and variants.

    "DragonWave made good progress during the quarter as we continued to increase our market presence,” said Peter Allen, President and CEO. “Our product portfolio continues to perform well in the high capacity wireless backhaul market globally."

    Revenue from outside North America grew 73% to $2.9m.

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