Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

First Albany Ups Powerwave to Buy

First Albany upgraded Powerwave Technologies (PWAV) to buy from neutral, citing lower than expected first quarter results.

Analyst Frank Marsala says the company gave very strong second quarter guidance, leading him to think first quarter weakness is a one-quarter anomaly. He says that $193.1 million first quarter revenue were at the low end of the company's target range, and 4 cents non-GAAP earnings per share (EPS) were below his 7 cents estiamte. He notes that the company guided to second quarter revenue of $240 million to $260 million, while non-GAAP EPS of 11 cents to 15 cents came out vs. his former estimates of $227.1 million and 12 cents EPS. Along with the upgrade, he raises his second quarter revenue estimate to $245 million and EPS to 14 cents. He raised his 2006 revenue to $1.01 billion from $987.8 million and EPS to 60 cents from 59 cents. He sees 87 cents 2007 EPS on $1.19 billion revenue. He has a $14 stock price target.

blog comments powered by Disqus