Powerwave Technologies Inc. (PWAV) Q1 2012 Results Earnings Call May 03, 2012 5:00 PM ET Executives Tom Spaeth – Treasurer Ron Buschur – President and CEO Kevin Michaels – Chief Financial Officer Analysts Mike Walkley – Canaccord Jason North – Jefferies Amir Tiwana – BRT Capital Randy Laufman – Imperial Capital Arun Seshadri – Credit Suisse PresentationOperator
Good day, ladies and gentlemen. And welcome to the First Quarter 2012 Powerwave Technologies Earnings Conference Call. My name is Lisa, and I’ll be your operator for today. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes. I would now like to turn the conference over to your host for today Mr. Tom Spaeth, Treasurer. Please proceed, sir. Tom Spaeth Thank you. Good afternoon. And welcome to Powerwave Technologies first quarter 2012 financial results conference call. I’m Tom Spaeth, Powerwave’s Treasurer. Joining us on today’s call will be Ron Buschur, President and Chief Executive Officer; and Kevin Michaels, Chief Financial Officer. Before starting, I would like to point out that various remarks we make about future expectations, plans and prospects for Powerwave, including but not limited to anticipated revenues and revenue growth rates, improvements in sales, the split between operator and OEM sales, operating margins, gross profit margins, earnings per share levels, operating expense targets, cash flow projections, revenue composition, supply chain constraints and shortages, manufacturing levels, the benefits of the Tatfook transaction, the timing and closing of the Tatfook transaction, improvements in cost structure, future cost savings related to our cost reduction activities, the timing of restructuring actions and associated cost savings, our ability to reduce our use of cash, availability of cash resources, demand levels for the company’s product lines including demand for the company’s advanced technology products in government markets, success and qualifying new products with customers, projected growth in various markets including government, public safety, and defense, trends in the wireless infrastructure market, including adoption of 4G capabilities and increases in spending by North American operators on their networks, the timing of product deliveries and future orders, the company’s ability to grow its core wireless business and enter into and compete in vertical markets for its products such as government and defense markets, common stock prices, the company’s ability to resolve new product production issues, debt purchases, the company’s ability to refinance its debt, the success of new products and market acceptance in new vertical markets, expense levels, capital expenditure rates, inventory turns, tax rates and days sales outstanding are all forward-looking statements, which are intended to qualify for the Safe Harbor from liability established by the Private Securities Reform Act of 1995.
Shares of Powerwave Technologies (Nasdaq:PWAV) were gapping down Friday morning with an open price 30.2% lower than Thursday's closing price. The stock closed at $2.15 yesterday and opened today's trading at $1.50.
Shares of Powerwave Technologies (Nasdaq:PWAV) were gapping down Wednesday morning with an open price 18.5% lower than Tuesday's closing price. The stock closed at $1.57 yesterday and opened today's trading at $1.28.