Investopedia: Can Powerwave Live To Fight Another Day?

Deep turnarounds can deliver major multi-bag returns to daring investors, but the reality is that many of these stories spiral down instead of turn around. Powerwave Technologies (Nasdaq:PWAV) is certainly in deep trouble; not only has carrier spending dropped significantly in recent quarters, but the company is facing competition from commodity RF amplifiers. While the potential returns from a Powerwave turnaround could indeed be massive, investors have to weigh this against the real possibility that Powerwave cannot turn itself around fast enough to overcome its debt.

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Companies like Alcatel-Lucent (NYSE:ALU), Ericsson (Nasdaq:ERIC) and Nokia-Siemens have certainly been hurt by the recent slowdown in carrier spending, but the impact has been even more serious at Powerwave. From $170 million in quarterly revenue for the period ending July 3, 2011, revenue has plunged to $60 million.

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