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EXHIBIT 99.1
THURSDAY DECEMBER 21, 4:15 PM EASTERN TIME
PRESS RELEASE
SOURCE: M-WAVE INC.
M-WAVE EXPECTS REVENUE TO INCREASE IN THE FOURTH QUARTER
BENSENVILLE, Ill., Dec. 21 /PRNewswire/ -- M-Wave, Inc. (Nasdaq: MWAV - news),
a manufacturer of high performance printed circuit boards used in wireless
communications, announced today that it expects fourth quarter revenues to be
approximately $20,000,000, up form $18,000,000 in the third quarter of 2000.
Gross margins will be between 14 and 17 percent and net income will be between
5 and 8 percent.
"We are proud to announce a record setting year," said Joseph A. Turek,
Chairman and Chief Executive Officer, "We also expect this trend continuing
through the first quarter of 2001 with revenues ranging between $20,000,000 and
$25,000,000."
The Company plans to release fourth quarter earnings on February 8, 2001
followed by its quarterly conference call on February 9, 2001, that can be
heard on 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 II(TM). The Company trades
on the Nasdaq SmallCap market under the symbol "MWAV." Visit the Company on its
web site at 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 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.
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