Powerwave Down on Warning
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.
Loading ...