were lower in Tuesday's after-hours market after the company reported a loss that was slightly wider than analysts were forecasting.
The Santa Ana, Calif., maker of power amplifiers for the wireless industry lost $5.7 million, or 9 cents a share, on revenue of $63.2 million in the quarter. The results included a charge for restructuring, before which it lost 8 cents a share, a penny worse than the consensus as compiled by Thomson First Call. The consensus revenue forecast was $59.3 million.
The company earned $1 million, or 2 cents a share, on revenue of $91.3 million in the year-ago quarter, and lost 14 cents a share before a charge on revenue of $51.5 million in the second quarter.
The shares, which have been on a roller coaster the last few months, peaking above $10 then falling to around $7 in late September when analysts raised concerns about growing competition in the wireless equipment market, were recently at $7.47, down 12 cents, or 1.6%, from their 4 p.m. EDT close. They were as low as $6.98 just after the earnings were released.
At 23%, Powerwave easily beat the 10% sequential revenue growth forecast it issued in July. The company continued to be largely dependent on
, which made up 62% of its revenue in the quarter, but it said cell-phone giants
each accounted for 10% of revenue in the period, too. About 15% of total third-quarter sales were to network operators in the quarter.