Powerwave Down on Warning

By TSC Staff ,

Mobile-phone equipment maker Powerwave (PWAV) was down 12.5% in preopen Instinet trading after the company warned its second-quarter revenue would be between $70 million and $80 million, compared to $73 million in the first quarter.

The company also said it expects "a lower loss" than the first quarter loss of 15 cents a share. Analysts are expecting a loss of 1 cent, according to

Thomson Financial/First Call

.

Powerwave blamed the change in estimates on the global economic slowdown.

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