During the third quarter of 2012, the Company continued to implement its ongoing restructuring plan, and initiated personnel reductions in both its domestic US and foreign locations across all functions. The Company’s operating expenses for the third quarter of 2012 decreased by $3.8 million, on a GAAP basis, when compared to the third quarter of 2011. On a pro forma basis, excluding equity based compensation expense and restructuring and impairment charges, pro forma operating expenses decreased by $4.4 million to $28.4 million for the third quarter of 2012 when compared with the third quarter of 2011 with similar pro forma adjustments.Third Quarter 2012 Revenue Summary
Powerwave Technologies Reports Third Quarter Results
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