Jeff...I think it is just part of the wireless mania we are seeing underway.
A good play here also is Micronetics (NOIZ Nasdaq 1 3/8)...they have completed a few acq's recently that give them a very strong product line of VCOs...voltage controlled oscillators. You have GOT TO have the infrastructure for a wireless world...also mentioned it on the AMPD thread<g>. I like to cross pollinate.
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
Micronetics Acquires Voltage Controlled Oscillator
Line From Delcom
HUDSON, N.H.--(BUSINESS WIRE)--Aug. 30, 1999--Micronetics Wireless, Inc.
(NASDAQ/NOIZ) announced today that it acquired the business and business assets of
Delitta Communications, Inc. d/b/a Delcom, Inc. of Salem, New Hampshire (''Delcom'') relating to voltage controlled
oscillators (''VCOs''). VCOs manufactured and marketed by Delcom were principally used in wireless communication systems
or test equipment.
In making the announcement, Richard S. Kalin, President of Micronetics, stated: ''The acquisition of Delcom signifies
Micronetics' strong commitment to expand its line of VCOs. We are especially pleased to announce that Mr. Stuart Bernstein,
a founder of Delcom with over four years experience marketing VCOs, will join Micronetics as Manager of VCO Sales''.
Stu Bernstein added ''I believe by joining forces Delcom and Micronetics will be better able to offer its customers high quality
VCOs, from prototypes to full production runs. The combination will also enable us to deliver quality technical assistance to
ensure delivery of top-performing VCOs. Whether customers are searching for high volume, low cost VCOs, or a specialized
VCO, with the combined resources of Delcom and Micronetics, we will be better able to provide it.''
Based in Hudson, NH, Micronetics Wireless designs, manufactures and markets a noise-based test equipment and components
used in the design, testing and manufacturing of cellular, PCS, wireless local loop and satellite equipment through its
Micronetics/Equipment group, and manufactures microwave components and subassemblies primarily used in radar, electronic
intelligence, wireless communication and electronic simulation applications through its Micronetics/Components group.
Micronetics acquired Microwave & Video Systems, Inc. Of Danbury, CT and Vectronics Microwave Corporation of
Middlesex, NJ earlier this year.
Statements in this press release contain forward-looking material. Actual results may vary due to a number of risks and
uncertainties and should be viewed in conjunction with Micronetics Annual Report for its fiscal year ended March 31, 1999.
Contact:
Richard S. Kalin, 212/239-8900 Ext. 22
E-mail: rkalin@micronetics.com
or
Stuart Bernstein, 603/883-2900 Ext. 316
E-mail: sbernstein@micronetics.com
gpg |
