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WAVEMAT INC. REPORTS RESULTS FOR FIRST QUARTER ENDED MARCH 31, 1993

 PLYMOUTH, Mich., June 1 /PRNewswire/ -- Wavemat Inc. announced results for its first quarter ended March 31, 1993. Net loss increased slightly despite a substantial decline in operating revenue, primarily a result of reduced operating expenses, higher royalty income and reduced interest expense.
 Monis Schuster, acting chairman and chief executive officer, said, "During the first quarter of 1993, Wavemat continued to increase gross margin on sales, with an increase to 50.8 percent compared to 39.6 percent during the same period in 1992. Additionally, we've significantly increased our backlog of open sales orders to $986,053 as of March 31, 1993. We anticipate shipment of this backlog during 1993."
 WAVEMAT INC.
 Statements of Operations
 (Unaudited)
 For the Three Months Ended
 March 31, 1993 March 31, 1992
 Operating revenue $175,894 $260,052
 Operating loss ($191,056) ($170,392)
 Net loss ($185,453) ($183,452)
 Net loss per share of
 common stock ($0.04) ($0.11)
 Weighted average number of
 common shares outstanding 4,372,364 1,705,697
 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- 6/1/93
 /CONTACT: Yvonne L. Bova, investor relations director, Wavemat Inc., 313-873-7800/
 (WVMT)


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

ML -- DE024 -- 3982 06/01/93 12:55 EDT
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Date:Jun 1, 1993
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