DragonWave Inc. reported consolidated unaudited earnings results for the first quarter ended May 31, 2017. For the quarter, the company reported revenue was $9.0 million compared with $8.0 million in the fourth quarter of fiscal year 2017. Gross profit before inventory provisions was 27.8% in the first quarter of fiscal year 2018, compared to 22.3% in the fourth quarter of fiscal year 2017. Operating expenses in the first quarter of the current fiscal year decreased to $6.6 million from $6.7 million in the fourth quarter of fiscal year 2017. Net loss attributable to shareholders in the first quarter of fiscal year 2018 was $4.3 million or $0.52 per basic and diluted share. This compares to a net loss attributable to shareholders of $3.9 million or $0.60 per basic and diluted share in the fourth quarter of fiscal year 2017. Cash and cash equivalents totaled $3.9 million at the end of the first quarter of fiscal year 2018, compared to $4.1 million at the end of the fourth quarter of fiscal year 2017. Adjusted cash flow from operations, which excludes noncash items such as inventory provisions, stock compensation expense and depreciation expense, was $3.6 million in the first quarter as compared to $4.3 million in the previous quarter.