PWAV - Sector: Technology---Industry: Communications Equipment

[setravis]

More top-performing Investors are feeling bullish about Powerwave Technologies (Nasdaq: PWAV)
Many telecommunications solution providers such as Alcatel-Lucent (NYSE: ALU), Ciena (Nasdaq: CIEN), and Motorola (NYSE: MOT) are handing out some pretty uninspiring numbers in the most recent quarter. Powerwave joined the party of misery as customers delay capital expenditures, but despite posting a loss, which narrowed to $2.1 million, the company showed signs of operational improvements. It has worked to cut expenses and was able to improve gross margins on a pro forma basis to 23.2%, versus 21.3% in the previous quarter. It was also free-cash-flow positive in the quarter and increased its cash balance to $55.4 million.

Powerwave continues to get a large portion of its revenue from telecom heavyweight Nokia (NYSE: NOK) by way of Nokia Siemens Networks -- the wireless network solution provider accounted for more than a third of revenue in the first quarter of 2009. Its diverse customer base also includes wireless operators like Sprint (NYSE: S) and Verizon Wireless, a joint venture between Verizon (NYSE: VZ) and Vodafone. The company is also seeing improvement in Asian markets, particularly China, where China Unicom and China Mobile have been on a spending spree that's benefiting other suppliers as well.

52wk Range: 0.22 - 5.30
Volume: 3,253,418
Avg Vol (3m): 2,038,370

Technicals
Last Price Quote is:
12.94%above 13-day MA
33.35%above 50-day MA
RS Rating: 98 

Fundamentals
Key Data:
Market Cap (M): $201.93 
P/E Ratio: 23.36 
PEG Ratio: 5.3494 
Next Earnings: 07/23/2009
Last Analyst Rating: Neutral

We have The Golden Cross!

[setravis]

NI Technology Updates Outlooks for Microvision, DragonWave...



PRINCETON, N.J., April 8, 2010 /PRNewswire via COMTEX/ -- Next Inning Technology Research ( http://www.nextinning.com ), an online investment newsletter focused on semiconductor and technology stocks, announced it has updated outlooks for Microvision (MVIS, Trade ), DragonWave (DRWI, Trade ), Powerwave Technologies (PWAV, Trade ), Microsemi (MSCC, Trade ) and International Rectifier (IRF, Trade ).

Editor Paul McWilliams has displayed uncanny accuracy in identifying winners and losers during this challenging and historic period for the markets. After logging a very successful 2009, McWilliams is now intently focused on the catalysts generating profits in 2010.

Most recently, McWilliams identified the timing of the market's latest dip and rebound for Next Inning readers in his quarterly Strategy Review. McWilliams has also just published a special report in the emerging and volatile solar energy sector that identifies the key drivers for the industry as well as likely winners and losers. These reports, as well as McWilliams' regular commentary, are available for free to trial subscribers.

In addition, a Next Inning trial subscription also offers access to a new special report on stocks that are likely to benefit most from the boom in demand for mobile bandwidth worldwide driven by Apple's iPhone and other smartphones. Trial subscribers will also receive McWilliams' highly acclaimed State of Tech reports that offer in-depth sector by sector coverage of over 65 leading tech companies and McWilliams' specific guidance on which stocks he thinks investors should own and which should be avoided. Finally, subscribers will have access to McWilliams' daily commentary and actionable alerts that have been providing frequent profit opportunities for Next Inning subscribers for years. To take advantage of this offer and receive these reports for free, please visit the following link:

https:// www.nextinning.com/subscribe/index.php?refer=prn996

McWilliams covers these topics and more in his recent reports:

Now that Microvision has secured an order for its pico-projector technology, has McWilliams upgraded his view on the company?

What is the case for growth that has been laid out by DragonWave? Why have certain analysts downgraded the stock? Read what DragonWave has to say about this and more in a lengthy and unedited response to investor concerns.

Does Powerwave have the right business model in place to take advantage of its good design decisions? Does a valuation analysis suggest that Powerwave is trading below a fair value? Is the time right for investors to buy Powerwave?

International Rectifier has nearly doubled since McWilliams recommended it as a good speculative investment. What does McWilliams see as the risks and the critical success factors facing International Rectifier that investors should monitor going forward? Does McWilliams think the stock merits holding at its current price or does he think it's time to take some profits?

Does McWilliams expect Microsemi to beat the analysts' consensus earnings estimate in 2010? Does McWilliams have a positive view of Microsemi's recent plan to acquire White Electronic Designs? What does McWilliams see as a fair value for Microsemi?

Founded in September 2002, Next Inning's model portfolio has returned 275% since its inception versus 31% for the S&P 500.

About Next Inning:

Next Inning is a subscription-based investment newsletter that provides regular coverage on more than 150 technology and semiconductor stocks. Subscribers receive intra-day analysis, commentary and recommendations, as well as access to monthly semiconductor sales analysis, regular Special Reports, and the Next Inning model portfolio. Editor Paul McWilliams is a 30+ year semiconductor industry veteran.

NOTE: This release was published by Indie Research Advisors, LLC, a registered investment advisor with CRD #131926. Interested parties may visit adviserinfo.sec.gov for additional information. Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

CONTACT: Marcia Martin, Next Inning Technology Research, +1-888-278-5515

SOURCE Indie Research Advisors, LLC

[setravis]

well we haven't talked about this one in a while.
Strong Uptrend,
with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.

On May 4, 2010, Powerwave Technologies, Inc. (PWAV) traded at a 52 week high of $1.94 after two analysts upgraded Powerwave to buy.
I believe Powerwave is considerably undervalued, and it should double from its current share price over the next 6 to 12 months.

[setravis]

Held at the 50-day. Oversold.
Target $2.25-$3.25, stop $1.65.
PWAV has been seeing a greater percentage of its revenue come from the Asia Pacific region, with the area making up about 40% of its total first-quarter revenues. And other U.S.-based companies like Qualcomm (Nasdaq: QCOM) are working hard to realize the potential there as well, as China Mobile has been testing Qualcomm's technology for possible use in next-generation 4G networks.

[setravis]

Powerwave Technologies Earnings Conference Call (Q2 2010)
Scheduled to start Mon, Aug 2, 2010, 5:00 pm Eastern

[setravis]

October 29, 2010, 8:37 AM ET.Powerwave Rises On Q3 Results...

Powerwave Technologies (PWAV) shares are trading higher following the company's Q3 financial report.

For the quarter, the wireless chip company posted revenue of $156.8 million, a hair below the Street at $158.4 million, but with pro forma profits of 6 cents a share, beating the Street consensus at 4 cents.

For Q4, the company said it is comfortable with the Street consensus revenue forecast, which is $176 million.

PWAV maintained its full year revenue forecast of $590 million to $620 million.

In early trading, PWAV is up 14 cents, or 7.1%, to $2.10.

[setravis]

Good earnings report...
Chart looks well and it will be helped with better then expected earnings.
Held at the 50-day...OverSold...good investment...

Day's Range: 2.22 - 2.45
52wk Range: 1.05 - 2.45
Volume: 5,484,276
Avg Vol (3m): 1,687,230

Technicals
Record Price High
Percentage Gainer

Last Price Quote is:
14.76%above 13-day EMA
20.56%above 50-day EMA
RS Rating: 83  

[setravis]

A Stock Poised to Pop...
With that in mind, let's take a closer look at Powerwave's business.
Overall bigger upside to a small downside, if they can work to control costs they'll come up big. And with management's big buys, I think they're going to work towards it.
I believe the stock will outperform the S&P 500 going forward.



"Good management team with strategic focus. Strategic vision...improved cost structure last 2 years."
As a small-cap provider of wireless infrastructure products, Powerwave stands to benefit from wireless operators' ever-increasing capacity needs.
Over the next five years, Powerwave is even expected to grow profits at a substantially faster clip (125% per annum) than close foes ADC (12.75%) and CommScope (11%), as well as wireless OEM giants Alcatel (NYSE: ALU) (5%), Motorola (NYSE: MOT) (7.8%), and Nokia (NYSE: NOK) (10.8%).

[setravis]

PWAV  Powerwave Technologies Joins EDGE(R) Innovation Network... 


SANTA ANA, Calif., Dec 07, 2010 (BUSINESS WIRE) -- Powerwave Technologies, Inc. (PWAV), a global leader in end-to-end wireless coverage and capacity solutions, announces that it has joined the EDGE Innovation Network, a collaborative, open-environment initiative enabling industry and academia, with government input, to work together to enhance the delivery cycle of new technologies and innovative capabilities to warfighters and first responders.

"Powerwave has long been a leader in commercial wireless network infrastructure and is uniquely positioned to help lead the adoption of commercial technology within the government sector," said Khurram Sheikh, chief product and development officer at Powerwave. "The EDGE Innovation Network offers great opportunities for Powerwave and fellow member organizations to collaborate on advancements in network technology and architecture that can provide government and military enterprises with the improved performance and capabilities critical for public safety, defense and homeland security applications."

Sponsored by General Dynamics C4 Systems, the EDGE has already delivered several innovations including a Soldier Intelligence surveillance and reconnaissance Receiver (SIR) to the U.S. Army. About the size of a BlackBerry(R) smartphone, the SIR device delivers real-time streaming video directly from multiple manned or unmanned assets directly into the hands of soldiers on the ground. Currently, there are over 10 projects in development intended to improve and enhance warfighter capabilities. More information about the EDGE Innovation Network is available at http://www.edge-innovation.com .

Pete Palmer, EDGE Innovation Network director, said, "The EDGE bridges the gap between meeting end-user needs with current capabilities by rapidly testing and delivering prototyped solutions. By applying the EDGE process, the government can quickly and cost-effectively review innovative products that can be delivered to users in months rather than years."

There are currently seven EDGE Innovation Centers worldwide and more than 150 EDGE members. More information can be found online at www.edge-innovation.com .

About Powerwave Technologies

Powerwave Technologies is the right choice for providing mission-critical secured wireless networks for government, military, homeland security and public safety agencies. The company is an innovative leader in next-generation wireless networks solutions that are rugged, flexible, scalable, and highly reliable with superior quality performance. Powerwave's solutions and services can help public agencies and governments reduce their capital and operating expenses, speed rollout of services, improve coverage and capacity and reduce environmental impact. Powerwave's products and solutions include distributed antenna systems (DAS), private secure mobile networks, rapid, flexible deployment of wireless networks, advanced signal filtering solutions and a full range of secure above- or below-ground controlled environment vaults. For more information, visit http://www.powerwave.com/government-solutions.asp .

Powerwave, Powerwave Technologies and the Powerwave logo are registered trademarks of Powerwave Technologies, Inc.

SOURCE: Powerwave Technologies, Inc.


Powerwave Technologies, Inc.
Investor Inquiries:
Kevin Michaels, 714-466-1608
or
Media Inquiries:
Laura Gibbons, 714-466-1257
[email protected]

[setravis]

A Stock Poised to Pop...
With that in mind, let's take a closer look at Powerwave's business.
Overall bigger upside to a small downside, if they can work to control costs they'll come up big. And with management's big buys, I think they're going to work towards it.
I believe the stock will outperform the S&P 500 going forward.



"Good management team with strategic focus. Strategic vision...improved cost structure last 2 years."
As a small-cap provider of wireless infrastructure products, Powerwave stands to benefit from wireless operators' ever-increasing capacity needs.
Over the next five years, Powerwave is even expected to grow profits at a substantially faster clip (125% per annum) than close foes ADC (12.75%) and CommScope (11%), as well as wireless OEM giants Alcatel (NYSE: ALU) (5%), Motorola (NYSE: MOT) (7.8%), and Nokia (NYSE: NOK) (10.8%).

Huge volume on such a big move.

Day's Range: 2.60 - 3.03
52wk Range: 1.05 - 3.03
Volume: 5,801,774
Avg Vol (3m): 1,977,700
Market Cap: 398.05M
P/E (ttm): N/A
EPS (ttm): -0.04
Div & Yield: N/A (N/A)

Technicals
Record Price High
Percentage Gainer

Last Price Quote is:
17.06%above 13-day EMA
28.25%above 50-day EMA
RS Rating: 95  

[setravis]

Powerwave is a global company that provides end-to-end wireless solutions for wireless communications networks. Its products are used in wireless networks globally.
PWAV has outpaced earnings estimates for two consecutive quarters.


Day's Range: 3.28 - 3.64
52wk Range: 1.05 - 3.64
Volume: 4,098,209
Avg Vol (3m): 2,173,860
Market Cap: 476.60M
P/E (ttm): N/A
EPS (ttm): -0.04
Div & Yield: N/A (N/A)


Technicals
Record Price High
Percentage Gainer

Last Price Quote is:
20.53%above 13-day EMA
42.45%above 50-day EMA
RS Rating: 97 

[setravis]

PWAV Powerwave Technologies Announces Fourth Quarter Conference C...  by Business Wire  Jan 12 2011 5:28PM

SANTA ANA, Calif., Jan 12, 2011 (BUSINESS WIRE) -- Powerwave Technologies, Inc. (PWAV) announced today that it will provide a simultaneous Webcast and live dial-in number for it's Fourth Quarter ended January 2, 2011, Financial Results Conference Call on Tuesday, February 1, 2011, at 2:00 PM Pacific Time (5:00 PM Eastern Time). Powerwave will be releasing its Fourth Quarter 2010 Financial Results on Tuesday, February 1, 2011 after the 1:00 PM Pacific Time market close. To access this live audio Webcast, select the Investor Relations page at www.powerwave.com and select the Powerwave Technologies Q4 Earnings Conference Call. To listen by phone, please dial (617) 213-8897 and enter reservation number 35629787. The call will begin at 2:00 PM Pacific Time on February 1, 2011 and last for approximately 1 hour. A replay of the Webcast will be available beginning approximately 3 hours after completion of the initial Webcast.

Additionally, an audio playback of Powerwave's Fourth Quarter 2010 Financial Results Conference Call will be available at approximately 5:00 PM Pacific Time on February 1, 2011 through February 8, 2011 by calling (617) 801-6888 and entering reservation number 22373935.

Company Background

Powerwave Technologies, Inc., is a global supplier of end-to-end wireless solutions for wireless communications networks. Powerwave designs, manufactures and markets a comprehensive suite of wireless solutions, including antennas, base station products and advanced coverage solutions, utilized in all major wireless network protocols and frequencies, including Next Generation Networks in 4G technology, such as LTE and WiMAX. Corporate headquarters are located at 1801 E. St. Andrew Place, Santa Ana, Calif. 92705. For more information on Powerwave's advanced wireless coverage and capacity solutions, please call (888)-PWR-WAVE (797-9283) or visit our web site at http://www.powerwave.com/ . Powerwave, Powerwave Technologies and the Powerwave logo are registered trademarks of Powerwave Technologies, Inc.

SOURCE: Powerwave Technologies, Inc.


Powerwave Technologies, Inc.
Kevin Michaels, 714-466-1608

[setravis]

Pennant BreakOut...confirmed!

Day's Range: 3.5450 - 3.89
52wk Range: 1.05 - 3.89
Volume: 4,876,109
Avg Vol (3m): 2,222,960
Market Cap: 505.89M
P/E (ttm): N/A
EPS (ttm): -0.04
Div & Yield: N/A (N/A)

Technicals
Record Price High
Percentage Gainer

Last Price Quote is:
24.29%above 13-day EMA
48.73%above 50-day EMA
RS Rating: 97  

[setravis]

Has turned the corner from a 5 year downtrend. The fundies are interesting. Low PEG and PE based on projected earnings.
Danger lies in PWAV relying on one major customer but they're in a hot sector and despite its negative book value its positive cash flow makes it a potential buy out candidate. I like it...
Should run to about 4.50 to 4.75...After that it will run into a solid resistance line...

Day's Range: 3.40 - 3.77
52wk Range: 1.05 - 3.99
Volume: 4,389,967
Avg Vol (3m): 2,284,640
Market Cap: 496.57M
P/E (ttm): N/A
EPS (ttm): -0.04
Div & Yield: N/A (N/A)

Technicals
Close Above the 13-day EMA
Percentage Gainer
RS Rating: 96 

[setravis]

Powerwave Technologies Reports Fourth Quarter Results
Fourth Quarter 2010 Highlights

Net sales of $176 million rose 12 percent sequentially and 23 percent year over year
GAAP Operating income of $15 million; pro forma operating income of $17 million or 9.6 percent of revenue
Converted $60 million of outstanding debt to equity
Retired an additional $10 million of debt
GAAP fully diluted EPS of 4 cents; pro forma fully diluted EPS of 6 cents

Press Release Source: Powerwave Technologies, Inc. On Tuesday February 1, 2011, 4:05 pm EST

SANTA ANA, Calif.--(BUSINESS WIRE)-- Powerwave Technologies, Inc. (Nasdaq:PWAV - News), a global supplier of end-to-end wireless solutions for wireless communications networks, today reported preliminary results for its fourth quarter ended January 2, 2011.



Net sales in the fourth quarter of fiscal 2010 were $175.6 million, compared with $142.6 million in the fourth quarter of fiscal 2009. Powerwave also reported fourth quarter GAAP net income of $6.4 million, which includes $1.0 million of restructuring and impairment charges, $0.8 million of non-cash debt discount amortization associated with certain outstanding debt, $1.5 million expense related to the conversion of $60 million of debt and the repurchase of $10 million of debt, and $0.9 million of non-cash equity based compensation expense. For the fourth quarter of 2010, the GAAP net income equates to basic earnings per share of 5 cents and fully diluted earnings per share of 4 cents. This compares with a net loss of $2.7 million, or a basic loss per share of 2 cents in the prior year period.



For the fourth quarter of fiscal 2010, excluding the restructuring and impairment charges, debt discount amortization, expenses related to the debt conversion and repurchase, and the non-cash equity based compensation expenses, on a pro forma basis, Powerwave would have reported net income of $10.1 million, or fully diluted earnings per share of 6 cents.



Total revenue for fiscal 2010 was $591.5 million compared with $567.5 million for fiscal 2009. Powerwave reported total GAAP net income for fiscal year 2010 of $3.7 million, or basic and diluted earnings per share of 3 cents, compared with a net loss of $5.7 million, or a basic loss per share of 4 cents for fiscal 2009. The results for fiscal 2010 include a total of $3.8 million of restructuring and impairment charges, $4.7 million of non-cash debt discount amortization net of a gain on the exchange of outstanding debt and a loss on the conversion to equity of debt and the net loss on the repurchase of outstanding debt, and $3.3 million of non-cash equity based compensation expenses. The results for fiscal 2009 included $8.0 million of restructuring and intangible asset amortization expenses, offset by a net gain of $3.6 million associated with the repurchase of outstanding debt net of non-cash debt discount amortization, and $4.4 million of non-cash equity based compensation expense. For fiscal 2010, excluding the restructuring and impairment charges and net debt discount amortization and equity compensation expenses, on a pro forma basis, Powerwave would have reported net income of $17.2 million, or fully diluted earnings per share of 11 cents compared with pro forma net income of $4.4 million, or fully diluted earnings per share of 3 cents for fiscal 2009.



"For the fourth quarter of 2010, we were able to show growth of 23% over the same period last year and 12% sequentially over the third quarter of this year," stated Ronald J. Buschur, president and chief executive officer of Powerwave Technologies. "More importantly, we were able to continue our improvements in our operating income for this year, with the added benefit of demonstrating strong profitability on both a GAAP and pro forma basis for the fourth quarter and year results. We continue to see signs of improvement in overall demand for wireless infrastructure equipment, driven globally by the continued increase in demand for smartphones and the requirements for faster data transmission rates. We are continuing to work to position Powerwave to capitalize on the long-term growth opportunities we believe are available within the global wireless infrastructure marketplace."



Summary of Significant Items Impacting the Fourth Quarter



During the fourth quarter of 2010, we incurred total restructuring and impairment charges of $1.0 million, which primarily included severance charges related to personnel reductions as well as site closure expenses. The Company also incurred approximately $0.8 million of non-cash debt discount amortization related to its outstanding 1.875% Convertible Subordinated Notes due 2024 pursuant to FASB Accounting Standards Codification (ASC) Topic 470-20, which is included in interest expense for the quarter.



In addition, the Company converted the entire outstanding $60 million principal amount of its 1.875% Convertible Senior Subordinated Notes due 2024 into 35.3 million shares of the Company's common stock, resulting in a loss on conversion of $1.1 million, which is included in other expense for the quarter. The Company also repurchased a total of $10 million in aggregate par value of its 1.875% Convertible Subordinated Notes due 2024, resulting in a non-cash charge of $0.4 million related to debt discount, which is also included in other expense for the quarter.


Fourth Quarter 2010 Revenue Summary



In the fourth quarter of 2010, total Americas revenue was $64.9 million or approximately 37 percent of revenue, compared with $37.9 million or approximately 27 percent of revenue in the fourth quarter of 2009. Total sales to customers based in the Asia Pacific region accounted for approximately 34 percent of revenue or $59.6 million in the fourth quarter of 2010, compared with 51 percent of revenue or $72.7 million in the fourth quarter of 2009. Total Europe, Africa and Middle East revenue in the fourth quarter of 2010 was $51.1 million or approximately 29 percent of revenue, compared with $32.0 million or approximately 22 percent of revenue in the fourth quarter of 2009.



Sales of products within the antenna systems group totaled $84.6 million or 48 percent of total revenue, sales of products in the base station systems group totaled $73.3 million or 42 percent of revenue and revenue from the coverage solutions group totaled $17.7 million or 10 percent of revenue in the fourth quarter of 2010.



In the fourth quarter of 2010, Powerwave's largest customer was Nokia Siemens Networks, who accounted for approximately 25 percent of revenue. In terms of customer profile, total OEM sales accounted for approximately 41 percent of total revenue, and total direct and operator sales accounted for approximately 59 percent of revenue.



In terms of transmission standards, 2G and 2.5G standards accounted for approximately 51 percent of total revenue, 3G standards accounted for approximately 36 percent of total revenue and 4G standards accounted for approximately 13 percent of total revenue during the fourth quarter of 2010.



Balance Sheet



At January 2, 2011, Powerwave had total cash and cash equivalents of $62.5 million, which includes restricted cash of $0.9 million. Total net inventories were $50.4 million, and net accounts receivable were $187.0 million.



Non-GAAP Financial Information



This press release includes certain non-GAAP financial information as defined by the U.S. Securities and Exchange Commission Regulation G. Pursuant to the requirements of this regulation, a reconciliation of this non-GAAP financial information to our financial statements as prepared under generally accepted accounting principles in the United States (GAAP) is included in this press release. Powerwave's management believes that the presentation of this non-GAAP financial information is useful to our investors and the investment community since it excludes restructuring and impairment charges related to the consolidation of our manufacturing and engineering facilities as well as severance costs related to facility closures and personnel reductions. In addition, excluded are the gains and losses on the conversion and repurchase of a portion of the Company's outstanding debt and the non-cash amortization of the debt discount associated with certain of our debt. Also excluded are non-cash equity compensation expenses related to ASC Topic 718. Management of Powerwave believes that these items should be excluded when comparing our current operating results with those of prior periods as the restructuring and impairment charges will not impact future operating results, the amortization of the debt discount is a non-cash expense and the gain and losses on the conversion and repurchase of debt will not impact future operating results, and equity compensation expense is a non-cash expense.



Company Background



Powerwave Technologies, Inc., is a global supplier of end-to-end wireless solutions for wireless communications networks. Powerwave designs, manufactures and markets a comprehensive suite of wireless solutions, including antennas, base station products and advanced coverage solutions, utilized in all major wireless network protocols and frequencies, including Next Generation Networks in 4G technology, such as LTE and WiMAX. Corporate headquarters are located at 1801 E. St. Andrew Place, Santa Ana, Calif. 92705. For more information on Powerwave's advanced wireless coverage and capacity solutions, please call (888)-PWR-WAVE (797-9283) or visit our web site at www.powerwave.com. Powerwave, Powerwave Technologies and the Powerwave logo are registered trademarks of Powerwave Technologies, Inc.



Attached to this news release are preliminary unaudited consolidated financial statements for the fourth quarter ended January 2, 2011.



Conference Call



Powerwave is providing a simultaneous webcast and live dial-in number of its fourth quarter fiscal 2010 financial results conference call on Tuesday, February 1, 2011 at 2:00 pm Pacific time. To access the audio webcast, select the Investor Relations page at www.powerwave.com and select the Powerwave Technologies Q4 earnings conference call. The call will last for approximately 1 hour. To listen to the live call, please call (617) 213-8897 and enter reservation number 35629787. A replay of the webcast will be available beginning approximately 3 hours after completion of the initial webcast. Additionally, an audio playback of the conference call will be available at approximately 5:00 pm Pacific time on February 1, 2011 through February 8, 2011 by calling (617) 801-6888 and entering reservation number 22373935.



Forward-Looking Statements



The foregoing statements regarding improving market conditions, increased demand for smartphones and long-term growth opportunities within the wireless communications infrastructure industry and Powerwave's ability to capitalize on such opportunities are "forward looking statements." These forward looking statements are based on information available to Powerwave as of the date of this press release and are subject to risks and uncertainties which could cause our actual results to differ materially from those projected or implied. Such potential risks and uncertainties include, but are not limited to, in no particular order: our ability to execute cost cutting initiatives without disrupting operations; delays or cancellations of wireless network capacity expansions and buildouts for both existing 2G, 2.5G, 3G and 4G networks; macroeconomic factors that may negatively influence demand for wireless communications infrastructure and thereby reduce demand for our products; future consolidation of our customers may reduce demand for our products; our ability to achieve manufacturing cost reductions and operating expense reductions; our ability to generate positive cash flow; wireless network operators may decide to not continue to deploy infrastructure equipment in the quantities that we expect; we require continued success in the design of new wireless infrastructure products and such products must be manufacturable and of good quality and reliability; component shortages or difficulties in obtaining components in the quantities required to meet customer demands may cause us to miss revenue targets and or lose customers to competitors; we are not able to increase our prices to cover our exposure to raw material and freight price increases; our dependence on single source suppliers for certain key components used in our products exposes us to potential material shortages; our business requires continued favorable business conditions and growth in the wireless communications market. Powerwave also notes that its reported financial performance and period to period comparisons are not necessarily indicative of the results that may be expected in the future and Powerwave believes that such comparisons cannot be relied upon as indicators of future performance. Powerwave also notes that the market price of its Common Stock has exhibited high levels of volatility and therefore may not be suitable for all investors. More detailed information on these and additional factors which could affect Powerwave's operating and financial results are described in the Company's Form 10-K/A, Amendment No. 1, for the fiscal year ended January 3, 2010, and Form 10-Q for the quarterly period ended October 3, 2010, both of which are filed with the Securities and Exchange Commission, and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. Powerwave urges all interested parties to read these reports to gain a better understanding of the many business and other risks that the Company faces. Additionally, Powerwave undertakes no obligation to publicly release the results of any revisions to these forward-looking statements which may be made to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.

Contact:
Powerwave Technologies, Inc.Kevin Michaels, 714-466-1608