Powerwave banks $7M profit on increased sales

Powerwave Technologies Inc. (PWAV) recorded a $7 million profit on $170.6 million in sales during the recently closed second quarter. The Santa, Calif.-based company grew its total revenue to $307.3 million in the first half of the year, up from $259.1 million in the first six months of 2010.
Revenues grew 18% from the year-ago period. The Americas region commanded around 47% or $80.2 million in revenue during the quarter while the Asia Pacific region drove 25% of total revenue. Africa, Europe and the Middle East comprised the remaining $48.6 million or approximately 28% of revenue. The Americas region grew in overall revenue and lifted its contribution to Powerwave’s business while Asia Pacific declined and Europe, Africa and the Middle East grew modestly.
Antenna systems and base stations each grabbed 45% of total revenue or $76 million and $77.6 million, respectively. The remaining 10% of revenue came from the company’s coverage solutions group.
The company’s equipment sales in terms of wireless technology standard was mixed as well. Around 40% of total revenue was tied to 2G and 2.5G standards, 3G standards drove about 35% of total revenue and 4G standards accounted for approximately 25% of all revenue during the quarter.
“While we are concerned about global macro economic issues, we continue to believe that we have positioned Powerwave to be in an excellent position from which to build up and capture both the short-term and long-term growth opportunities that are in the global wireless infrastructure marketplace,” president and CEO Ronald Buschur said in a prepared statement.