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powerwave technologies inc (PWAVQ) Snapshot

Open
$0.0016
Previous Close
$0.0016
Day High
$0.0016
Day Low
$0.0016
52 Week High
03/7/14 - $0.0045
52 Week Low
01/9/15 - $0.0002
Market Cap
50.8K
Average Volume 10 Days
68.1K
EPS TTM
$-1.17
Shares Outstanding
31.8M
EX-Date
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P/E TM
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Dividend
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Dividend Yield
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Current Stock Chart for POWERWAVE TECHNOLOGIES INC (PWAVQ)

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powerwave technologies inc (PWAVQ) Details

Powerwave Technologies Inc. produces and sells wireless infrastructure solutions for enterprise and commercial customers. It offers antenna solutions, such as single broadband, multi-broadband, and triple-broadband antennas; and 4G solutions and systems for airport, healthcare, outdoor venue, resort/hotel/convention center, business campus, in-building, rail/transport, and university applications. The company also provides NetWay, an integrated and secure element management system, which comprises a suite of management tools for fault, configuration, performance, and security management; and tower mounted amplifiers, same band combiners, cross-band diplexers, and triplexers, as well as filter and combining solutions. In addition, it offers design, consulting, and engineering services for its products. The company was formerly known as Milcom International, Inc. and changed its name to Powerwave Technologies Inc. in June 1996. Powerwave Technologies Inc. was founded in 1985 and is headquartered in Aliso Viejo, California. On June 11, 2013, the voluntary petition of Powerwave Technologies, Inc. for reorganization under Chapter 11 was converted to Chapter 7. It had filed for Chapter 11 bankruptcy on January 28, 2013.

2,179 Employees
Last Reported Date: 02/28/12
Founded in 1985

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powerwave technologies inc (PWAVQ) Key Developments

Powerwave Technologies, Inc. Reports Preliminary Results for the First Quarter Ended April 1, 2012

Powerwave Technologies Inc. reported preliminary results for the first quarter ended April 1, 2012. For the period, net sales were $43.3 million, compared with $136.6 million in the first quarter of fiscal 2011. GAAP net loss was $57.9 million, which includes $0.8 million of non-cash equity based compensation expense and $1.3 million of non-cash debt interest accretion, and $8.8 million of restructuring charges. The net loss equates to a basic loss per share of $1.83. This compares to a net loss of $7.0 million, or a loss per share of 21 cents for the prior year period. For the first quarter of fiscal 2012, excluding the debt interest accretion and the non-cash equity based compensation expenses and restructuring charges, on a pro forma basis, Powerwave would have reported a net loss of $39.5 million, or basic loss per share of $1.25. The first quarter revenues were impacted by weakness in several of the company's markets.

Powerwave Technologies Inc. Enters into a Debtor in Possession Credit and Security Agreement; Announces Management Changes

Powerwave Technologies Inc. announced that it has entered into a Debtor in Possession Credit and Security Agreement with P-Wave Holdings, LLC, an affiliate of The Gores Group. Under the agreement, P-Wave Holdings, LLC will make available to the Company a multiple draw senior secured priming term loan credit facility of up to $5,000,000 for general corporate purposes and working capital during its bankruptcy case in support of the sales process the company is undertaking. The company also announced that Ronald J. Buschur has resigned from his positions as President and Chief Executive Officer. The Board of Directors of the company has appointed Khurram Sheikh as Chief Executive Officer. Mr. Sheikh previously was the company's Chief Technology Officer.

NASDAQ Announces Delisting Of Powerwave Technologies

NASDAQ announced that it will delist the common stock of Powerwave Technologies Inc. The company's stock was suspended on January 30, 2013 and has not traded on NASDAQ since that time. NASDAQ will file a Form 25 with the Securities and Exchange Commission to complete the delisting of the company. The delisting will become effective ten days after the Form 25 is filed.

 

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