Advertisement

O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Powerwave Shares Fall 9% in Wake of Loss Warning

March 22, 2001|Bloomberg News

Shares of Powerwave Technologies Inc. fell 9% Wednesday after the Santa Ana maker of components for wireless-telephone networks said it expects a first-quarter loss.

Powerwave shares fell $1.25 to $12.94 a share on Nasdaq. About three months ago, the shares traded as high as $73.81 each.

The company said after the close of U.S. markets Tuesday that it expects a loss in its first quarter, ending April 1, instead of the profit of 5 cents to 10 cents a share it forecast in January. It was expected to earn 6 cents, the average estimate of analysts polled by First Call/Thomson Financial.

Makers of wireless-telephone equipment have reduced and delayed orders for some products, Powerwave said. Company officials couldn't be reached for comment.

Advertisement
Los Angeles Times Articles
|
|
|