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M-WAVE Reports Results

 BENSENVILLE, Ill, April 29 /PRNewswire/ -- M-WAVE, Inc. (NASDAQ-NMS: MWAV) today reported its earnings for the first quarter ended March 31, 1993.
 EARNINGS
 Revenues for the quarter ending March 31, 1993 increased to $3,759,282, up 92 percent from the same quarter last year. Net income increased 204 percent to $528,972 from $174,201. Earnings per share increased to $.18 versus $.09 for the first quarter of 1993.
 M-WAVE, INC.
 For the period ending March 31, 1993 1992
 Net sales $3,759,282 $1,961,888
 Gross profit 1,122,590 504,630
 Operating income 809,378 294,187
 Income before taxes 840,070 284,726
 Net income 528,972 174,201
 Net income per share 0.18 0.09
 Revenues increased in the first quarter due to increased shipments to the company's larger customers.
 The company began assembly operations of Microwave Frequency Components onto High Frequency Circuit Boards in early January 1993.
 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 communications 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- 4/29/93
 /CONTACT: Paul H. Schmitt, 708-860-9542, or Deborah Gordon, 312-372-0771, both of M-WAVE/
 (MWAV)


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

SH -- NY101 -- 2782 04/29/93 15:10 EDT
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Date:Apr 29, 1993
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