Santa Ana-based Powerwave Technologies Inc. posted sales and income results for the third quarter that beat Wall Street estimates, the company reported Thursday.
The maker of amplifiers for wireless networks reported adjusted earnings of
$18.2 million, up from $2.8 million a year ago. Analysts surveyed by Thomson Financial expected earnings of $14.6 million.
Revenue grew almost 50% to $217.8 million, partly driven by Powerwave’s September buy of Del Mar-based Remec Inc.’s wireless systems business. Analysts were looking for revenue of $202.9 million in the quarter.
The company’s antenna systems business saw the biggest sales increase, nearly doubling to $77.5 million from a year ago.
Revenue in the Americas region nearly tripled to $95 million, versus a year earlier. The region accounted for about 44% of Powerwave’s revenue. Sales to customers in Europe, Africa and the Middle East rose 17% to $105.3 million.
