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M-WAVE REPORTS SECOND QUARTER EARNINGS

 BENSENVILLE, Ill., July 28 /PRNewswire/ -- M-WAVE Inc. (NASDAQ: MWAV) today reported its earnings for the second quarter ended June 30, 1993.
 EARNINGS
 Revenues for the quarter ending June 30, 1993 increased to $5,575,220, up 112 percent from the same quarter last year. Net income increased to $1,097,363, a 386 percent increase. Earnings per share increased to $.39 versus $.08 for the same quarter last year.
 Revenues for the six month period ending June 30, 1993 increased to $9,334,502, up 103 percent from the same period last year. Net income increased to $1,626,335, a 307 percent increase. Earnings per share increased to $.57 versus $.17 for the same period last year.
 M-WAVE INC.
 Three Months Six Months
 Periods ended June 30 1993 1992 1993 1992
 Net sales $5,575,220 $2,633,433 $9,334,502 $4,595,321
 Gross profit 2,168,106 503,223 3,290,696 1,007,853
 Operating income 1,784,885 328,783 2,594,263 622,970
 Net income 1,097,363 225,605 1,626,335 399,806
 Net income per share .39 .08 .57 .17
 Revenues increased in the second quarter due to increased shipments to the company's larger customers.
 M-Wave Inc. manufactures microwave frequency components (MFC) and high frequency circuit boards (HFCB) on Teflon based laminates (TBL). The company's MFC and HFCB are used in wireless communication systems and other devices and equipment operating in the microwave frequency spectrum of 800 Mhz and above, such as cellular telephone, direct broadcast satellite television, global positioning satellite systems, personal communication networks and military smart weapons and antenna systems.
 The company's stock is traded on the NASDAQ national market system under the symbol MWAV.
 -0- 7/28/93
 /CONTACT: Paul H. Schmitt of M-Wave, 708-860-9542/
 (MWAV)


CO: M-Wave Inc. ST: Illinois IN: TLS SU: ERN

WB -- NY101 -- 6864 07/28/93 15:39 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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