OT++++One of the ways to approach the wireless sector is through those companies
that help to provide the infrastructure required in a wireless world. One example is
Micronetics (NOIZ Nasdaq 1 3/8...I'm long). Through recent acquisitions they have
greatly expanded their line of VCOs (voltage controlled oscillators) and I think the
company is finally ready to begin delivering the kind of numbers investors like to see in
a favored sector.
I have been following NOIZ for quite a while...sometimes it just comes down to
timing...I think their time may be here. Here is the last earnings release:
Micronetics = Q1 Revenues Grow 27.5%
HUDSON, N.H.--(BUSINESS WIRE)--Aug. 9, 1999--Micronetics Wireless, Inc.
(NASDAQ:NOIZ - news), a provider of microwave components and subassemblies and noise-based test equipment used in
the wireless communications industry and in other electronic applications, today announced financial results for the first quarter
of its fiscal year ending March 31, 2000 (FY2000).
Net sales in Q1 of FY2000 increased to $1,342,916 from $1,053,675 in Q1 FY99. Net income increased to $99,941, or
$.03 per share, as compared with $97,840, or $.03 per share, in the same quarter a year ago.
Richard S. Kalin, President, stated ''The growth this quarter is a reflection of the impact of our recent acquisitions of
Microwave & Video Systems, Inc. and Vectronics Microwave Corporation. Both our Micronetics:Components and our
Micronetics: Equipment groups are receiving significantly increased orders, with backlog at record levels. If current activities
continue, we expect FY2000 to be a record year.''
Based in Hudson, NH, Micronetics:Equipment manufactures, designs and markets a range of test equipment and components
used to design, test and manufacture equipment for cellular, PCS, wireless local loop and satellite applications.
Micronetics:Components manufactures and markets microwave components and subassemblies used in radar and other military
or electronic applications.
Statements which are not historical facts, including statements about the Company's confidence and strategies and its
expectations about new and existing products, technologies and opportunities, market and industry segment growth, demand
and acceptance of new and existing products are forward looking statements that involve risks and uncertainties. These include,
but are not limited to, product demand and market acceptance risks; the impact of competitive products and pricing; the results
of financing efforts; the loss of any significant customers of any business; the effect of the Company's accounting policies; the
effects of economic conditions and trade, legal, social, and economic risks, such as import, licensing, and trade restrictions; the
results of the Company's business plan and the impact on the Company of its relationship with its primary lender.
INCOME STATEMENT DATA
First Quarter Ended June 30,
1999 1998
----- ------
Net sales $1,342,916 $1,053,675
Net income 99,941 97,840
Earnings per share .03 .03
Wgt. Avg.shares outstanding 3,765,640 3,403,688
BALANCE SHEET DATA
June 30, 1999 March 31, 1999
Working capital $3,342,467 $3,271,475
Total assets 6,044,591 6,022,680
Non-current liabilities 876,824 915,831
Shareholders' equity 4,491,987 4,423,911
Contact:
Micronetics Wireless, Inc.
Richard S. Kalin, President
212/239-8900 or RKalin@MICRONETICS.COM
or
Makenzie Communications
Noelle Makenzie, President
212/760-4004 or NMakenzie@AOL.COM
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