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Powerwave's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Now, I’m going to turn the call over to Kevin Michaels, Powerwave’s Chief Financial Officer.

Kevin Michaels

Thank you, Tom. With all of these risk factors in mind, I’d like to start reviewing our financial results, which we are also summarized in our press release. Net sales for the first quarter of 2012 were $43.3 million and we reported a GAAP net loss of $57.9 million, which equates a basic loss per share of $1.83.

This includes the total of $1.3 million of non-cash debt interest accretion expense related to certain of our outstanding convertible notes, $800,000 of non-cash pre tax stock-based compensation expense, an $8.8 million of restructuring expense in the quarter. All these charges and amortization totaled approximately $10.9 million for the first quarter.

Read the rest of this transcript for free on seekingalpha.com

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