Powerwave Technologies released preliminary revenue estimates for its fiscal third quarter ended October 2, 2011, saying that it now anticipates that revenues will be in the range of $75 million to $79 million -- well below market expectations.
Powerwave makes antennas and base station components for network equipment manufacturers.
The cited a number of several factors, including a significant slowdown in spending by North American network operators, a significant reduction in activity with original equipment manufacturing customers, coupled with further weakness in several international markets, including Western and Eastern Europe, and the Middle East.
Ronald Buschur, President and Chief Executive Officer of Powerwave Technologies, stated that "From a global perspective, we believe that the current economic environment has caused operators to reduce or postpone their spending plans for the near term while they evaluate the macro-economic pressures in each individual market. The Middle East market has been significantly impacted by the political unrest throughout the region. In addition, in the North American market we believe that the uncertainty arising from the government's recent opposition to the proposed merger of AT&T and T-Mobile, has led to delays in spending as these operators re-evaluate their capital spending plans."http://www.powerwave.com/2176.asp
Powerwave makes antennas and base station components for network equipment manufacturers.
The cited a number of several factors, including a significant slowdown in spending by North American network operators, a significant reduction in activity with original equipment manufacturing customers, coupled with further weakness in several international markets, including Western and Eastern Europe, and the Middle East.
Ronald Buschur, President and Chief Executive Officer of Powerwave Technologies, stated that "From a global perspective, we believe that the current economic environment has caused operators to reduce or postpone their spending plans for the near term while they evaluate the macro-economic pressures in each individual market. The Middle East market has been significantly impacted by the political unrest throughout the region. In addition, in the North American market we believe that the uncertainty arising from the government's recent opposition to the proposed merger of AT&T and T-Mobile, has led to delays in spending as these operators re-evaluate their capital spending plans."http://www.powerwave.com/2176.asp
Shareholders in Telstra have voted to approve the company's participation in the roll out of the National Broadband Network (NBN), including the decommissioning of the company's copper network. The resolution on the NBN received the support of 99 percent of shareholders who have voted or lodged a proxy. 
Dropbox, a start-up based in San Francisco, raised $250 million in Series B financing for its online storage service. Dropbox currently has 45 million users who are collectively saving one billion files every three days. The company offers 2GB of free storage for Windows, Mac, Linux and mobile users. Subscriptions up to 100GB available. The service easily lets users share large files will friends, classmates and colleagues. Dropbox is seeking to extend its service to consumer devices and applications.
