Shawshank, VA 4/13/12 (StreetBeat) – Shares of the wireless networking provider Powerwave Technologies (Nasdaq: PWAV) are trading dramatically lower this morning after the company issueda stark warning for its fiscal first quarter ended April 1. The company said it now sees revenue for the quarter of $40 million to $45 million, well below the Street consensus forecast at $62.3 million“For the first quarter, Powerwave continued to encounter weakness in several of its markets, as network operators continued to be conservative in their spending plans and several markets continued to delay capital spending plans,” the company said.
PWAV this morning is down 70 cents, or 32.6%, to $1.45.
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