Powerwave Technologies (Nasdaq: PWAV) released preliminary financial results for the fourth quarter ended Jan. 2, 2011.
The firm reported net sales in the fourth quarter of fiscal 2010 worth $175.6 million, compared with $142.6 million during the same timeframe in fiscal 2009. Total revenue for fiscal 2010 was $591.5 million compared with $567.5 million for fiscal 2009.
“For the fourth quarter of 2010, we were able to show growth of 23 percent over the same period last year and 12 percent sequentially over the third quarter of this year, ” CEO Ronald Buschur said. “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.”