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M-WAVE REPORTS THIRD QUARTER EARNINGS

 BENSENVILLE, Ill., Oct. 25 /PRNewswire/ -- M-WAVE, Inc. (NASDAQ-NMS: MWAV) today reported its earnings for the third quarter ended Sept. 30, 1993.
 Revenues for the quarter ended Sept. 30, 1993, increased to $5,058,265, up 66 percent from the same quarter last year. Net income increased to $1,023,100, a 168 percent increase. Earnings per share increased to $.36 versus $.13 for the same quarter last year.
 Revenues for the nine month period ended Sept. 30, 1993, increased to $14,392,767, up 88 percent from the same period last year. Net income increased to $2,649,435, a 239 percent increase. Earnings per share increased to $.93 versus $.30 for the same period last year.
 Period ended Sept. 30: Three Months Nine Months
 1992 1993 1992 1993
 Net sales $3,048,055 $5,058,265 $7,643,376 $14,392,767
 Gross profit 886,689 2,260,131 1,894,542 5,550,827
 Operating income 603,058 1,628,403 1,226,028 4,222,666
 Net income 382,325 1,023,100 782,131 2,649,435
 Net income per share .13 .36 .30 .93
 Revenues derived from the larger customers increased approximately $1,875,000 in the third quarter compared to the same quarter last year and increased approximately $5,950,000 for the nine month period comapred to the same period last year. Revenues derived from all other customers were approximately equal in the third quarter of this year and last year but increased approximately $800,000 for the nine- month period ending Sept. 30, 1993, compared to the same period last year.
 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 telephones, 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- 10/25/93
 /CONTACT: Paul H. Schmitt, 708-860-9542, for M-WAVE/
 (MWAV)


CO: M-WAVE, Inc. ST: Illinois IN: CPR SU: ERN

JS -- NY119 -- 6592 10/25/93 17:59 EDT
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Publication:PR Newswire
Date:Oct 25, 1993
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