Powerwave’s Quarterly Profit Up Five-Fold

Powerwave Technologies Inc., an Irvine maker of power amplifiers for the wireless communications industry, posted record quarterly revenue Thursday and a five-fold increase in net income.

The company earned $10.3 million, or 48 cents a share, for the first quarter ended April 2, compared to $2.1 million, or 11 cents a share, in last year’s first three months. Quarterly revenue rose 86% to $103.9 million.

Powerwave said in a press release that its leading position in the radio frequency power amplifier market should be enhanced by its recent five-year exclusive agreement with Motorola Inc. The contract designates Powerwave as the sole aftermarket supplier of high-power, multi-carrier amplifiers for certain Motorola cellular base stations.