The statements are subject to numerous risks and uncertainties that could cause Powerwave’s actual results to be materially different from those projected or implied. Some of the risks and uncertainties include our ability to accurately forecast and anticipate customer orders, our ability to increase sales and conserve cash, our reliance on a limited number of customers, our ability to control operating costs and conserve cash, our ability to realize anticipated cost savings and synergies, execute restructuring activities in a timely fashion without negatively impacting our business, the negative impact on demand for our products due to the macro-economic environment, reduced demand due to industry consolidation among our major customers, day -- delays or cancellations of wireless network capacity expansions and buildouts for both existing networks and new 4G networks, fluctuations in foreign currencies, ability to accurately forecast cash flows and credit collections, the ability to refinance debt, the ability to enter into new markets for our products and solution, the impact of competitive products and pricing, economic and political conditions, the loss of one or more significant customer accounts, delays in the closing of the Tatfook transaction, any difficulty in transitioning China manufacturing operations to Tatfook and the possibility of disruptions in the supply of our products.Please refer to our press release, Powerwave’s annual report on Form 10-K for the fiscal year ended January 1, 2012, and other filings which were unfilled with the Securities and Exchange Commission for additional information on factors which could cause our actual results to be different from those projected or implied. In addition, on this call we will discuss non-GAAP financial information, reconciliation of the non-GAAP financial information to our financial statements as prepared under GAAP is included in our press release dated today, which can be find -- found at our website at powerwave.com and on business square. The press release also has detailed information concerning several of the significant items impacting our results and we urge you to review that information.
Now, I’m going to turn the call over to Kevin Michaels, Powerwave’s Chief Financial Officer.Kevin Michaels Thank you, Tom. With all of these risk factors in mind, I’d like to start reviewing our financial results, which we are also summarized in our press release. Net sales for the first quarter of 2012 were $43.3 million and we reported a GAAP net loss of $57.9 million, which equates a basic loss per share of $1.83. This includes the total of $1.3 million of non-cash debt interest accretion expense related to certain of our outstanding convertible notes, $800,000 of non-cash pre tax stock-based compensation expense, an $8.8 million of restructuring expense in the quarter. All these charges and amortization totaled approximately $10.9 million for the first quarter. Read the rest of this transcript for free on seekingalpha.com