Santa Ana-based Powerwave Technologies Inc. warned Monday that it would fall short of previous sales guidance by a wide margin.
Powerwave, a maker of wireless tower gear, said it now expects sales of $155 million to $160 million compared to earlier expectations of $200 million to $210 million, a difference of at least 20%.
The company’s shares dropped 17.7% in trading Monday.
Ronald Buschur, chief executive, blamed difficulties in implementing a new companywide software program and delays in moving manufacturing lines.
“These issues combined resulted in both delayed production and shipments which significantly reduced our actual revenues for the quarter,” Buschur said.
Powerwave saw some “slowness” in sales as well, Buschur said.
The warning comes after the company fell short of analysts estimates for sales and earnings in its second quarter. Then, the company blamed sluggish sales to its key North American customer: Atlanta-based Cingular Wireless LLC.
