Powerwave Technologies files for bankruptcy protection
Jan 28 (Reuters) - Powerwave Technologies Inc, which makes wireless antennas, filed for Chapter 11 bankruptcy protection on Monday as its losses ballooned over the past year.
The company listed assets of $213.5 million and liabilities of $396.1 million, according to documents filed in the U.S. Bankruptcy Court in Wilmington, Delaware.
The company reported a net loss through the first nine months of 2012 of $153.1 million, compared with a net loss of $35.0 million in same period a year before, according to a regulatory filing.
Shares of Powerwave fell 77 percent to 7.02 cents on Nasdaq in Monday morning trade.
- Anger mounts after bodies found trapped inside sunken South Korean ferry |
- Vice-principal of South Korea school in ferry disaster commits suicide |
- Special Report: How the U.S. made its Putin problem worse
- Search resumes after Everest's worst climbing tragedy
- All 338 Korean students, teachers rescued from sinking ferry - school official