News...
Tuesday January 30, 5:03 pm Eastern Time
Press Release
Powerwave Technologies Announces $20 Million in Korean 3G Orders
IRVINE, Calif.--(BUSINESS WIRE)--Jan. 30, 2001--Powerwave Technologies Inc. (Nasdaq:PWAV - news) Tuesday announced that it has received orders from its Korean OEM customers for more than $20 million in third generation multi-carrier amplifier products for delivery over the first half of this year.
``Powerwave is excited to continue our long relationship with the Korean wireless infrastructure market and we are eager to support them on their 3G deployments,'' stated Bruce C. Edwards, president and CEO of Powerwave Technologies. ``We greatly appreciate the opportunity to further expand our relationships with the top tier Korean OEMs and are excited about supporting their future activities.''
About Powerwave Technologies
Powerwave Technologies, an ISO 9001 quality certified company, is a leading supplier of high performance RF power amplifiers for use in wireless communications networks. Powerwave designs, manufactures and markets both single carrier and multi-carrier RF power amplifiers for use in cellular, PCS and 3G base stations throughout the world.
Corporate headquarters are located at 2026 McGaw Ave., Irvine, CA 92614. Telephone 949/809-1100. For more information on Powerwave's high-performance ultra-linear RF power amplifiers and amplifier systems, call 888/PWR-WAVE (797-9283) or visit the company's Web site at www.powerwave.com.
Powerwave Forward-Looking Statements
The foregoing statements regarding the expansion of our relationship with Korean wireless infrastructure OEMs and new orders received from such OEMs and our participation in their infrastructure expansion plans are ``forward-looking statements.'' All of these statements are subject to risks and uncertainties which could cause our actual results to differ materially from those projected or implied. Such potential risks and uncertainties include, but are not limited to, in no particular order: our ability to meet our Korean customer's delivery requirements; any potential delay or cancellation of such 3G orders in the future; we have previously experienced cancelled orders due to economic conditions in Asia and Korea in particular, and we cannot guarantee that such economic conditions will not occur again; delays in deployment of the new power amplifier architectures and delays in acceptance of the new power amplifier architectures by network operators; unexpected technical difficulties in developing products incorporating the new architectures; we require continued success in the design of new amplifier products and such products must be manufacturable and of good quality and reliability; our dependence on single source suppliers for certain key components used in our amplifiers exposes us to potential material shortages; variability in our gross margins on new products, including 3G products, which could result in a negative impact on our operating results; manufacturing delays or interruptions resulting from the movement and relocation of our production lines to new facilities in the first quarter of 2001; the ramp up of new production lines may take longer than planned and any such delays may have a negative impact on our operating results; our business requires continued favorable business conditions and growth in the wireless communications market. More detailed information on these and additional factors which could affect Powerwave's operating and financial results are described in the company's Form 10-K for the fiscal year ended Jan. 2, 2000, and its Form 10-Q for the quarterly period ended Oct. 1, 2000, both of which are filed with the Securities and Exchange Commission, and other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. Powerwave urges all interested parties to read these reports to gain a better understanding of the many business and other risks that the company faces. Additionally, Powerwave undertakes no obligation to publicly release the results of any revisions to these forward-looking statements which may be made to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.
Note to Editors: Powerwave and Powerwave Technologies are registered trademarks of Powerwave Technologies and the Powerwave logo is a trademark of Powerwave Technologies.
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Contact:
Powerwave Technologies Inc., Irvine
Kevin Michaels, 949/809-1608
david matherly |
