OTTAWA – Networking technology maker DragonWave Inc. saw first-quarter revenues increase by almost 48.7%, but losses mount due to the deflated dollar. Revenues soar to $15.95 million from $10.73 million, a record spike for quarterly revenues, according to the company, which reports that sales of backhaul technology to a single, unspecified customer were responsible for most (52%) of the gain. Net losses widened to $2.88 million from $1.94, as the company suffered from a foreign exchange imbalance of $1.69 million. Click here for the full report.