AML Communications Inc. reports record operating results for FY 1996 third quarter.

CAMARILLO, Calif.--(BUSINESS WIRE)--Jan. 24, 1996--AML Communications Inc. (NASDAQ:AMLJ) Wednesday announced record operating results for the third fiscal quarter ended Dec. 31, 1995.

Revenues for the quarter increased 138 percent to $1,803,000 compared with revenues for the third quarter ended Dec. 31, 1994, of $757,000. Net income for the fiscal third quarter increased to $300,000, or 9 cents per share, on 3,254,000 weighted average shares outstanding compared with fiscal 1995 third quarter net income of $8,000, or 0 cents per share, on 2,704,000 weighted average shares outstanding.

For the nine months ended Dec. 31, 1995, revenues increased 139 percent to a record $4,381,000, resulting in a net income of $739,000, or 23 cents per share, on 3,159,000 weighted average shares outstanding. This compares with revenues for the nine months ended Dec. 31, 1994, of $1,834,000 and a net loss of $25,000, or 1 cent per share, on 2,694,000 weighted average shares outstanding.

Jacob Inbar, chairman and chief executive officer of AML Communications, commented on the record results, saying: ``We are satisfied with the progress accomplished during the quarter. In the face of strong demand for our wireless amplifier products during the period, we were able to increase our manufacturing capacity and maintain the short lead times required by our customers.

``In large part this was due to the accelerated training of our technical and manufacturing staff which began earlier in the year. During the quarter we also delivered our first Repeat-A-Cell, cellular repeater, extending our amplifier-based product line.

``In order to accommodate our future growth, we are in the process of expanding to a modern, 25,000-square-foot manufacturing, administration and technical support facility which compares to our present 7,500-square-foot facility. We expect to occupy this Camarillo-based facility in the spring of this year.

``During the quarter, the demand for our products remained strong,'' continued Inbar. ``The customers for our amplifier-based products include cellular phone companies motivated to increase billable minutes by providing seamless and consistent service.

``To meet this demand for service, cellular phone companies are expanding capacity by splitting cells as well as adding new cell installations to enhance seamless coverage, thereby providing potential locations for our products.''

Inbar noted that the company completed its initial public offering on Dec. 12, 1995, through the sale of 1,150,000 shares of common stock (including the sale of 150,000 over allotment shares in January 1996), resulting in net proceeds to the company of approximately $7.7 million.

``The completion of our IPO provides AML Communications with adequate capital to finance our growth for at least the next 12 months,'' said Inbar.

AML Communications designs, manufactures and markets multicarrier amplifiers and related products for the cellular and other communications markets. -0-

                        AML Communications Inc.
                         Summary of Operations
                              (unaudited)

                   Three months ended          Nine months ended
                        Dec. 31,                   Dec. 31,
                   1995          1994         1995           1994

Net sales      $ 1,803,000   $   757,000  $ 4,381,000    $ 1,834,000
Income (loss)
 before taxes      495,000        10,000    1,226,000        (20,000)
Provision for
 taxes             195,000         2,000      487,000          5,000
Net income
 (loss)        $   300,000   $     8,000  $   739,000    $   (25,000)
Income (loss)
 per share         9 cents       0 cents     23 cents        (1 cent)
Weighted average
 shares
 outstanding     3,254,000     2,704,000    3,159,000      2,694,000

CONTACT: AML Communications Inc., Camarillo

William E. Sheridan, 805/388-1345

or

Coffin-KCSA, Sherman Oaks, Calif.

William F. Coffin, 818/789-0100