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A theoretical analysis is presented of a solid-state power amplifier consisting of a unidirectional transmission line loaded by a series of negative-resistance diodes. Numerical calculations of the large-signal amplifier characteristics are carried out assuming a cubic nonlinear relationship between the diode current and the RF voltage. Diode parameters used in these calculations are chosen to approximate those of available IMPATT diodes. A bandwidth in excess of 30 percent and a saturated CW power output of more than 20 watts are predicted for 10-diode amplifiers.