Loser: Powerwave Technologies
On its website, Powerwave Technologies (PWAVQ) claims that it is a “global leader in end-to-end wireless coverage and capacity solutions,” and that it has “cutting edge” products for antennas, base stations and coverage systems.
Too bad that hasn’t translated into a decent business.
During the first nine months of 2012, revenues collapsed by about two-thirds to $128 million, and its loss ballooned from $35 million to $153 million.
As a result, Powerwave had no choice but to file for Chapter 11 bankruptcy in January, and it recently had to drop its case down to a Chapter 7 liquidation after an asset sale came up well short of expectations.