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 Cuts Powerwave Technologies to Neutral

From Standard & Poor's Equity Research

First Albany downgraded Powerwave Technologies (PWAV) to neutral from buy, noting the company's second quarter results.

Analyst Frank Marsala says the $232.4 million second quarter revenue was $8 million below his estimate and below the company's $240 million to $260 million guidance. He notes that Powerwave cited lower-than-expected sales to Cingular as a contributor to the shortfall, which surprised him as the company had previously expressed confidence in its ability to deliver its initial estimates for Cingular for the second quarter. He says the third quarter guidance of $200 million to $210 million, as well as the 5 cents to 7 cents non-GAAP earnings per share (EPS) result also disappointed. He notes that the company cut its estimates for sales to Cingular and forecast weaker sales in Europe. He lowers his 17 cents third quarter EPS estimate to 6 cents, his 58 cents 2006 estimate to 37 cents and his 83 cents 2007 estimate to 50 cents.

blog comments powered by Disqus