Wednesday September 27, 7:50 am Eastern Time
M-Wave sees third-quarter profit 50 pct from Q2
BENSENVILLE, Ill., Sept 27 (Reuters) - M-Wave Inc. (NasdaqSC:MWAV - news), a
provider of high-performance printed circuit boards used in wireless communications, on
Wednesday said it expects third-quarter earnings to be up about 50 percent from the
second quarter.
That figure implies that Bensenville, Ill.-based M-Wave expects a profit of $1.14 million,
given its second-quarter earnings of $758,000, or 33 cents per share.
The company said it would report earnings in the range of 45 to 50 cents per share for the third quarter. M-Wave had a net
loss of $495,000, or 22 cents per share, in last year's third quarter.
M-wave also said it expects 2000 annual revenues to jump to between $40 million and $50 million from $11.3 million in 1999.
Third-quarter gross margins will be between 17 and 20 percent, with net margins between 5 and 8 percent, the company said.
``We are on track to have a record-setting year,'' Joseph Turek, M-Wave's chairman and chief executive, said in a statement.
``We continue to see growth in our patented bonding process, Flexlink II, and our continued concentration in virtual
manufacturing has enabled us to achieve our margin and income goals.'' M-Wave plans to release its third quarter results on
Oct 24. |
