AML Communications Inc. announces results for fourth quarter and fiscal year 1997.

CAMARILLO, Calif.--(BUSINESS WIRE)--May 13, 1997--AML Communications Inc. (NASDAQ:AMLJ) Tuesday announced that it reported a 102 percent increase in revenues to $14.1 million for the fiscal year ending March 31, 1997, compared with $7.0 million for prior year.

Net income for fiscal year 1997 increased to $2.1 million, or 33 cents per share on 6,519,000 weighted average shares outstanding in comparison with net income of $1.2 million, or 23 cents per share, on 5,160,000 weighted average shares outstanding for the previous year.

For the fourth quarter ending March 31, 1997, the company reported revenues of $2.5 million, compared with $2.6 million for the same three-month period last year. Net income for the quarter was $52,000, or 1 cent per share, on 6,518,000 weighted average shares outstanding in comparison with net income of $458,000, or 7 cents per share, on 6,389,000 weighted average shares outstanding for the three months ending March 31, 1996.

Jacob Inbar, chairman and chief executive officer of AML Communications, commented on the announcement by saying: "Although we are very satisfied with our year-over-year performance both in revenue levels and net income results, we realize that the fourth quarter fell below expectations. As previously announced in our pre-earnings release dated March 25, 1997, AML witnessed a change in the cellular market during the latter half of the year and specifically in the fourth quarter.

"As a result, we believe the company can expect its cellular revenue to continue to trend downward through most of the upcoming year. Nevertheless, in the face of this challenge we are very excited about the new fiscal year and the numerous opportunities we believe exist in other related markets.

"The deployment of the PCS infrastructure presents several distinct opportunities given our recent introduction of several amplifier products for this market. Additionally, the satellite communications market which we successfully penetrated in the fourth quarter, and growth in overseas wireless markets may provide further opportunities.

"In summary, we look back on the past fiscal year with a significant amount of pride as we experienced both record earnings and revenues in light of rapid growth and a move into a new facility. At the same time, we are looking into the eyes of the new fiscal year and its challenges with the same amount of determination and commitment that has brought AML to where it is today."

AML Communications designs, manufactures and markets multicarrier amplifiers, masthead amplifiers and repeaters for the cellular, PCS, paging and other communications markets.

Statements in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements and fall within the safe harbor of the Private Securities Litigation Reform Act of 1995.

The company's actual results and financial position could differ materially from those anticipated in the forward-looking statements as a result of a number of factors, including, but not limited to, economic conditions, changing trends within the cellular industry, impact of competition, continued opportunities in the PCS and satellite communications markets, the successful execution of the company's product expansion plans and other risks and uncertainties described in detail under the "Risk Factors" section and elsewhere in the company's prospectus dated Dec. 12, 1995, as well as in the company's other filings with the Securities and Exchange Commission. -0-

                      AML COMMUNICATIONS INC.
                       Statements of Income
            (In $000s except for per-share information)

                              Three Months Ended     12 Months Ended
                                   March 31,             March 31,
                              1997          1996     1997       1996

Net sales                  $ 2,460       $ 2,608   $14,091   $ 6,988
Cost of goods sold           1,496         1,218     6,892     3,181
Gross profit                   964         1,390     7,199     3,807

Operating expenses:
 Selling, general &
  administrative               557           463     2,534     1,048
 Research and development      386           289     1,510       852
Total operating expenses       943           752     4,044     1,900
Operating income                21           638     3,155     1,907
 Interest expense
  (income), net                (50)          (56)     (208)      (13)
Income before provision
 for income taxes               71           694     3,363     1,920
Provision for income taxes      19           236     1,237       723
Net income                 $    52       $   458   $ 2,126   $ 1,197

Earnings per common share  $  0.01       $  0.07   $  0.33   $  0.23
Weighted average number
 of common shares
 outstanding                 6,518         6,389     6,519     5,160


NOTE:  All share and per-share data have been adjusted to
give retroactive effect to the 3-for-2 stock split paid on
June 28, 1996.


                      AML COMMUNICATIONS INC.
                          Balance Sheets
             (In $000s except for per-share information)

                                  March 31,        March 31,
                                    1997             1996

Current assets:
 Cash and cash equivalents        $ 8,025          $ 6,312
 Accounts receivable, net           1,910            1,549
 Inventories                        1,961            1,304
 Other current assets                 203            1,341
Total current assets               12,099           10,506

Property and equipment, net         1,963              949
Other assets                          481              190
Total assets                      $14,543          $11,645

Liabilities:
 Accounts payable                 $   857          $   600
 Accrued liabilities                  603              448
 Income taxes payable                 244              710
 Current portion of long-term
  capital leases                       40              118
Total current liabilities           1,744            1,876
Capital lease obligations,
 long-term                             62              360
Total stockholders' equity         12,737            9,409
Total liabilities and
 stockholders' equity             $14,543          $11,645

CONTACT: AML Communications Inc., Camarillo

Kirk A. Waldron, 805/388-1345

or

Coffin Communications Group, Sherman Oaks, Calif.

Steven B. Johnson, 818/789-0100