Micronetics Inc. announced that it has been awarded a contract valued at approximately $2 million from a leading defense contractor for high performance microwave isolators that will be used in a radar system designed to help protect naval ships worldwide. Deliveries on this contract will commence in first quarter of fiscal 2011 and continue for eighteen months.

Micronetics Inc. reported earnings results for the third quarter and nine months ended Dec. 26, 2009. Net sales for the third quarter were $9.0 million, an increase of 7% or $0.6 million compared to $8.4 million for the same period a year ago. The increase in net sales is primarily due to integrated component sub-systems. Sales of components were approximately equal to last year with increases in high power amplifiers and an existing space based contract offset by declines in other components. For the quarter, the company reported net income of $504,143 or $0.11 per diluted share, as compared to a net loss of $9.4 million or $1.96 per diluted share for the same period a year ago. Income from before income taxes was $835,000 against loss before income taxes of $9,312,000 a year ago. Net sales for the thirty-nine weeks ended December 26, 2009 were $25.7 million, an increase of 17% or $3.7 million compared to $22.0 million for the thirty-nine weeks ended December 27, 2008. The increase in net sales is primarily attributable to an increase in sales of integrated component sub-systems for jamming and electronic modernization of approximately $2.1 million, an RFID beta test product sale of $0.7 million and sales related to a space based contract of $1.0 million. For the thirty-nine weeks ended December 26, 2009, the company reported net income of $678,401 or $0.15 per diluted share, as compared to a net loss of $9.3 million or $1.88 per diluted share for the thirty-nine weeks ended December 27, 2008. Income from before income taxes was $1,138,000 against loss before income taxes of $9,276,000 a year ago. Net loss for quarter was primarily attributable to a non-cash goodwill and intangible asset impairment charge of $9.3 million.

Micronetics Inc. reported earnings results for the second quarter and six months ended September 26, 2009. For the quarter, the company reported net sales of $8.8 million, an increase of 35% or $2.3 million compared to $6.5 million for second quarter of 2009. The increase in net sales for second quarter of 2010 is primarily due to an RFID beta product sale, a space based contract, and sales of integrated component sub-systems and components, of approximately equal amounts. The company reported net income of $186,323 or $0.04 per diluted share, as compared to a net loss of $66,600 or $0.01 per diluted share for second quarter of 2009. Income before income taxes was $323,000 compared to loss before income taxes of $248,000 for the same period last year. For the six months, the company reported net sales of $16.7 million, an increase of 23% or $3.1 million compared to $13.6 million for the twenty-six weeks ended September 27, 2008. The increase in net sales is primarily attributable to an increase in sales of integrated component sub-systems for jamming and electronic modernization of approximately $1.6 million, an RFID beta test product sale of $0.7 million and sales related to a space based contract of $0.7 million. For the twenty-six weeks ended September 26, 2009, the company reported net income of $174,258 or $0.04 per diluted share, as compared to net income of $91,006 or $0.02 per diluted share for the twenty-six weeks ended September 27, 2008. Income before income taxes was $174,000 compared to $36,000 for the same period last year.

Micronetics Receives an Order Valued at Approximately $2M for Microwave Isolators Used in a Radar System

Micronetics Receives an Order Valued at Approximately $2M for Microwave Isolators Used in a Radar System

MICRONETICS INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits

MICRONETICS INC Files SEC form 10-Q, Quarterly Report

MICRONETICS INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Exhibits

MICRONETICS INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits

MICRONETICS INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits

MICRONETICS INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Completion of Acquisition or Disposi

MICRONETICS INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits

MICRONETICS INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits