Powerwave Directors OK Stock Repurchase

Powerwave Technologies Inc. said Thursday that its board of directors has authorized the company to repurchase up to 1 million shares of its common stock in open market transactions.

The company, which supplies power amplifiers for wireless communications networks, said the repurchased shares will be used for its employee stock option programs.

The stock fell $2 to $20.13 a share Thursday on the Nasdaq market.