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ORANGE COUNTY EARNINGS

Powerwave Technologies Inc.

October 13, 1998

The Irvine manufacturer of amplifiers for wireless communications networks, posted steep declines in net income and sales for the third quarter.

Net income fell to $121,000, or 1 cent a share, from $4.7 million, or 26 cents a share, for the prior-year period. Sales declined 52% to $16.5 million from $34.3 million.

The company said results were affected by delays in several anticipated orders from customers as well as the economic crisis in Asia.

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