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WAVEMAT INC. REPORTS RESULTS FOR ITS SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 1993

 PLYMOUTH, Mich., Aug. 24 /PRNewswire/ -- Wavemat Inc. (WVMT) announced results for its second quarter and six months ended June 30, 1993. Operating loss declined during the second quarter as a result of reduced operating expenses and due to a slight increase in operating revenue. Operating revenue increased slightly during the quarter as a result of higher microwave processing system sales.
 Dr. Richard Dexter, Wavemat's president and chief operating officer, said, "Wavemat continues to focus on improving the company's financial position through controlled expenses and increased sales. We remain dedicated to our mission to become a leading supplier of microwave products and services for materials processing. We have begun an internal quality program with the goal of total customer satisfaction which we believe will further enhance our future financial performance."
 WAVEMAT INC.
 Condensed Statements of Operations
 (Unaudited)
 For the Three Months For the Six Months
 Ended June 30, Ended June 30,
 1993 1992 1993 1992
 Operating revenue $180,517 $167,823 $356,411 $427,875
 Operating loss ($162,742) ($213,149) ($353,798) ($383,541)
 Net loss ($163,188) ($211,943) ($348,641) ($395,395)
 Net loss per share
 of common stock ($0.04) ($0.08) ($0.08) ($0.18)
 Weighted average number
 of common shares
 outstanding 4,372,364 2,684,452 4,372,364 2,195,074
 Wavemat Inc. designs, manufactures and markets proprietary microwave equipment for processing of advanced materials. Products range from standard modules for process research and development, to products for production integration and turnkey development systems incorporating Wavemat's patented technology.
 -0- 8/24/93
 /CONTACT: Yvonne L. Bova, investor relations director of Wavemat, 313-873-7800/
 (WVMT)


CO: Wavemat Inc. ST: Michigan IN: SU: ERN

SB -- DE020 -- 5467 08/24/93 13:03 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
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