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Softness Socks PowerWave
Mergers between wireless infrastructure players short-circuited Powerwave's (PWAV Quote) bottom line, but sales in the first quarter beat expectations.
The Santa Ana, Calif., wireless network parts-maker had an adjusted loss of $25.7 million, or 20 cents a share, which compares with a 3 cent pro forma profit a year ago.
Sales for the quarter ended April 1 were $163.6 million, down from the $181.8 million level a year ago.
Analysts were looking for an adjusted loss of 15 cents a share on sales of $159 million. ...
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