Powerwave Technologies Rises as Sales Beat Estimates

Powerwave Technologies Inc., (PWAV) the maker of wireless communications products, rose 13 percent in Nasdaq trading 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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