Bloomberg News

Powerwave Technologies Rises as Sales Beat Estimates

May 06, 2008

Powerwave Technologies Inc., (PWAV:US) the maker of wireless communications products, rose 13 percent in Nasdaq trading (PWAV:US) after reporting sales that beat analysts' estimates.

Powerwave, based in Santa Ana, California, jumped 39 cents to $3.17 at 4 p.m. New York time on the Nasdaq Stock Market for the biggest advance April 30.

First-quarter sales increased 38 percent to $226.3 million, Powerwave said in a statement yesterday. Eleven analysts surveyed by Bloomberg predicted $203.9 million, on average.

The net loss narrowed to $14.2 million, or 11 cents a share, from $47.1 million, or 36 cents, a year earlier, the company said.

To contact the reporter on this story: Don Jeffrey in New York at djeffrey1@bloomberg.net

To contact the editor responsible for this story: Colleen McElroy at cmcelroy@bloomberg.net


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