Powerwave Technologies, Inc. (
Q3 2011 Earnings Conference Call
November 1, 2011 5:00 PM ET
Tom Spaeth – VP, Treasurer
Ron Buschur – President and CEO
Kevin Michaels – CFO and Secretary
Steven O'Brien – JPMorgan
Michael Walkley – Cannacord Genuity
Arun Seshadri – Credit Suisse
Zack Zolnierz – MTR Securities
Good day, ladies and gentlemen, and welcome to the third quarter 2011 Powerwave Technologies earnings conference call. My name is Tom and I will be your coordinator for today. At this time, all participants are in listen-only mode. We will be conducting a question-and-answer session towards the end of today’s conference. (Operator Instructions)
I would now like to turn the presentation over to Tom Spaeth, Powerwave’s Treasurer. Please proceed.
Thank you, good afternoon and welcome to Powerwave Technologies third quarter 2011 financial results conference call. I am Tom Spaeth, Powerwave's Treasurer. Joining us on today's call will be Ron Buschur, President and Chief Executive Officer and Kevin Michaels, Chief Financial Officer.
Before starting, I would like to point out that various remarks we make about future expectations, plans and prospects for Powerwave, including but not limited to anticipated revenues and revenue growth rates, the split between operator and OEM sales, operating margins, gross profit margins, earnings per share levels, cash flow projections, revenue composition, supply chain constraints and shortages, manufacturing levels, improvements in cost structure, future cost savings related to our cost reduction activities, the timing of restructuring actions and associated cost savings, demand levels for the company's product lines, projected growth in market share, trends in the wireless infrastructure market, the timing of product deliveries and future orders, the company's ability to grow its core wireless business and enter into and compete in vertical markets for its products such as Government and Defense markets, common stock prices, the company's ability to resolve new product production issues, debt purchases, the success of new products, expense levels, capital expenditure, inventory turns, tax rates and days sales outstanding are all forward-looking statements, which are intended to qualify for the Safe Harbor from liability established by the Private Securities Reform Act of 1995.