M~Wave Expects Revenues and Income to Increase in First Quarter Annual Revenues to $60 - $70 Million

Apr 02, 2001, 01:00 ET from M~Wave, Inc.

    BENSENVILLE, Ill., April 2 /PRNewswire/ -- M~Wave, Inc. (Nasdaq:   MWAV), a
 value-added service provider of high performance printed circuit boards used
 in a variety of telecommunications applications for wireless and internet
 communications, announced today that revenues for the first quarter ending
 March 30, 2001 are expected to be approximately $22.5 million.  This level of
 revenues exceeds our revenues for the fourth quarter of 2000 and is in line
 with our previous estimates.  Net income is expected to be between 8 and 10
 percent of our revenues, which is in line with our business model.
     "Make no mistake, 2001 will be a tough year," said Joseph A. Turek,
 Chairman and Chief Executive Officer.  "However, we expect our annual sales
 revenues to increase from $57 million in 2000 to between $60 million and
 $70 million in 2001.
     "Economic uncertainty has increased during the last few weeks.  We
 currently expect that the economic downturn will adversely affect our revenues
 during the second quarter of 2001 as certain customers reduce and/or defer
 capital spending.  However, based on discussions with our customers, we are
 optimistic that we can still achieve our goal of increasing our annual
 revenues.
     "We continue to see many opportunities in the market even with the current
 economic uncertainty, and we will use our strengths to serve our customers in
 the best possible way.  For example, Lucent Technologies recently announced
 that it was awarded a $5 billion contract by Verizon Wireless.  We expect to
 supply products to Lucent in connection with this contract.  In addition,
 Ericson recently placed orders for products using our Virtual Manufacturing
 concept."
     The Company plans to release first quarter earnings on May 1, 2001
 followed by its quarterly conference call on May 2, 2001, that can be heard on
 http://www.vcall.com .
     Established in 1988 and headquartered in the Chicago suburb of
 Bensenville, Ill., M~Wave is a manufacturer of high performance printed
 circuits through its wholly owned subsidiary Poly Circuits.  The Company's
 products are used in a variety of telecommunications applications for wireless
 and Internet communications.  M~Wave services customers like Lucent
 Technologies and Motorola, Inc. with its patented bonding technology, Flexlink
 IITM.  The Company trades on the Nasdaq SmallCap market under the symbol
 "MWAV".  Visit the Company on its web site at http://www.mwav.com .
 
     This news release contains predictions, estimates and other forward-
 looking statements that involve a number of risks and uncertainties.  While
 this outlook represents our current judgement on the future direction of the
 business, such risks and uncertainties could cause actual results to differ
 materially from any future performance suggested above.  Factors that could
 cause actual results to differ include the following: dependence on key
 customers; economic conditions; dependence on suppliers and subcontractors for
 circuit board components; successful award of contracts under bid; a highly
 competitive environment; design and production delays; cancellation or
 reductions of contract orders; effective utilization of existing and new
 manufacturing resources; pricing pressures by key customers; and other factors
 detailed in the Company's Securities and Exchange Commission filings.
     For more information on M~Wave via fax, free of charge, dial
 1-800-PRO-INFO and enter the ticker "MWAV".
 
 

SOURCE M~Wave, Inc.
    BENSENVILLE, Ill., April 2 /PRNewswire/ -- M~Wave, Inc. (Nasdaq:   MWAV), a
 value-added service provider of high performance printed circuit boards used
 in a variety of telecommunications applications for wireless and internet
 communications, announced today that revenues for the first quarter ending
 March 30, 2001 are expected to be approximately $22.5 million.  This level of
 revenues exceeds our revenues for the fourth quarter of 2000 and is in line
 with our previous estimates.  Net income is expected to be between 8 and 10
 percent of our revenues, which is in line with our business model.
     "Make no mistake, 2001 will be a tough year," said Joseph A. Turek,
 Chairman and Chief Executive Officer.  "However, we expect our annual sales
 revenues to increase from $57 million in 2000 to between $60 million and
 $70 million in 2001.
     "Economic uncertainty has increased during the last few weeks.  We
 currently expect that the economic downturn will adversely affect our revenues
 during the second quarter of 2001 as certain customers reduce and/or defer
 capital spending.  However, based on discussions with our customers, we are
 optimistic that we can still achieve our goal of increasing our annual
 revenues.
     "We continue to see many opportunities in the market even with the current
 economic uncertainty, and we will use our strengths to serve our customers in
 the best possible way.  For example, Lucent Technologies recently announced
 that it was awarded a $5 billion contract by Verizon Wireless.  We expect to
 supply products to Lucent in connection with this contract.  In addition,
 Ericson recently placed orders for products using our Virtual Manufacturing
 concept."
     The Company plans to release first quarter earnings on May 1, 2001
 followed by its quarterly conference call on May 2, 2001, that can be heard on
 http://www.vcall.com .
     Established in 1988 and headquartered in the Chicago suburb of
 Bensenville, Ill., M~Wave is a manufacturer of high performance printed
 circuits through its wholly owned subsidiary Poly Circuits.  The Company's
 products are used in a variety of telecommunications applications for wireless
 and Internet communications.  M~Wave services customers like Lucent
 Technologies and Motorola, Inc. with its patented bonding technology, Flexlink
 IITM.  The Company trades on the Nasdaq SmallCap market under the symbol
 "MWAV".  Visit the Company on its web site at http://www.mwav.com .
 
     This news release contains predictions, estimates and other forward-
 looking statements that involve a number of risks and uncertainties.  While
 this outlook represents our current judgement on the future direction of the
 business, such risks and uncertainties could cause actual results to differ
 materially from any future performance suggested above.  Factors that could
 cause actual results to differ include the following: dependence on key
 customers; economic conditions; dependence on suppliers and subcontractors for
 circuit board components; successful award of contracts under bid; a highly
 competitive environment; design and production delays; cancellation or
 reductions of contract orders; effective utilization of existing and new
 manufacturing resources; pricing pressures by key customers; and other factors
 detailed in the Company's Securities and Exchange Commission filings.
     For more information on M~Wave via fax, free of charge, dial
 1-800-PRO-INFO and enter the ticker "MWAV".
 
 SOURCE  M~Wave, Inc.