Powerwave Technologies Rises as Sales Beat 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.
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