FORM 10-QSB

                    SECURITIES AND EXCHANGE COMMISSION

                          Washington, D.C.  20549

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
                      SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 1998

                                    OR

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE     
                    SECURITIES AND EXCHANGE ACT OF 1934

For the transition period from                to               .

Commission file number 33-16453

                       MICRONETICS WIRELESS, INC.              
      
     (Exact name of small business issuer as specified in its charter)

          Delaware                          22-2063614      
(State or other jurisdiction of         (IRS Employer 
incorporation or organization)           Identification No.)

              26 Hampshire Drive, Hudson NH  03051               
                 (Address of principal executive offices)
                                (Zip Code)

                             (603) 883-2900                      
             (Issuer's telephone number, including area code)

                                                                      
     (Former name, former address and former fiscal year, if changed  
since last report)

     Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the
Securities and Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

Yes  X    No    

     Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest practical date.

3,445,715 shares of common stock, par value $.01 per share as of
August 3, 1998.


                 Page 1 of 12.  There is no Exhibit Index.


                        MICRONETICS WIRELESS, INC.


                                   INDEX




                                                        Page No.



Part I.  Financial Information:

     Item 1.   Financial Statements.

               Condensed Balance Sheets -
               June 30, 1998 and March                      3-4
               31, 1998

               Condensed Statements of Operations-
               Three Months Ended June 30, 1998
               and June 30, 1997                              5

               Condensed Statement of Cash Flows -          6-7
               Three Months Ended June 30, 1998
               and June 30, 1997

               Notes to Condensed Financial                   8
               Statements

     Item 2.   Management's Discussion and Analysis
               or Plan of Operation.                       9-10

Part II.  Other Information:

     Item 2.   Changes in Securities and Use of Proceeds.    11

     Item 6.   Exhibits and Reports on Form 8-K.             11

               Signature                                     12















                       PART I. FINANCIAL INFORMATION

Item 1.  Financial Statements.

                         MICRONETICS WIRELESS, INC.
                          CONDENSED BALANCE SHEETS
                                 (UNAUDITED)
                                   Assets

                                        June 30,       March 31,
                                          1998            1998
                                      ---------------------------

CURRENT ASSETS:
 Cash                                   1,232,461      1,031,625

Receivables
 Trade (net of allowance for
 doubtful accounts)                       694,783      1,010,219

Inventories (note 2)                    1,494,744      1,421,685

Prepaid expenses and other 
 current assets                            45,956         37,238

Deferred tax asset                         12,550         43,302

Other current assets                       76,778         57,338
                                        ---------      ---------
TOTAL CURRENT ASSETS                    3,557,272      3,601,407
                                    
FIXED ASSETS

Land                                      162,000        162,000
Building & Improvements                   850,009        850,009
Furniture, Fixtures, and
 Equipment                              1,340,251      1,324,586
Capitalized Leases                         82,990         82,990
                                        ---------      ---------
 Gross Fixed Assets                     2,435,250      2,419,585
 Accumulated Depreciation
  and Amortization                       (934,132)      (898,516)
                                        ---------      ---------
TOTAL (NET) FIXED ASSETS                1,501,118      1,521,069

OTHER ASSETS

 Deposits                                   4,144          4,479

 Intangibles (Net of 
  Amortization)                            77,555         86,936
                                        ---------      ---------
TOTAL OTHER ASSETS                         81,699         91,415
                                        ---------      ---------
TOTAL ASSETS                            5,140,089      5,213,891<PAGE>
       
           
                        MICRONETICS WIRELESS, INC.
                          CONDENSED BALANCE SHEETS
                                 (UNAUDITED)
                    Liabilities and Shareholders' Equity


                                       June 30,       March 31,
                                         1998           1998
                                   -----------------------------



CURRENT LIABILITIES:

 Short-term loans and capitalized
 leases                                 117,647        106,471

 Accounts payable                       225,131        321,713

 Accrued expenses and taxes, other  
  than income taxes                     181,740        248,620

 Subordinated debentures                 25,000         25,000

 Income taxes payable                    28,990         17,810
                                      ---------      ---------
TOTAL CURRENT LIABILITIES               578,508        719,614

LONG-TERM DEBT:

 Capitalized leases                      31,926         40,308

 Notes Payable - Bank                   845,691        868,720
                                      ---------      ---------
TOTAL LONG-TERM DEBT                    877,617        909,028

SHAREHOLDER'S EQUITY:                  

 Common stock                            34,161         34,153
 Additional paid - in capital         2,536,004      2,535,137
 Retained earnings                    1,113,799      1,015,959
                                      ---------      ---------
TOTAL SHAREHOLDERS' EQUITY            3,683,964      3,585,249
                                      ---------      ---------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY                  5,140,089      5,213,891
                              <PAGE>
         
                          MICRONETICS WIRELESS, INC.
                      CONDENSED STATEMENT OF OPERATIONS
                                 (UNAUDITED)



                                    Three Months Ended June 30,
                                       1998               1997
                                    ------------       ----------


Operating revenues                 $ 1,053,675         $ 1,010,699

Cost of operations                     631,164             616,083
                                     ---------           ---------
Gross profit                           422,511             394,616

Selling, general and
 administrative expenses               237,187             227,561

Research & development                  53,424              54,320
                                     ---------           ---------
Operating income                       131,900             112,735

Other income (expense):
 Rental income                          19,583              15,062
 Interest income                         9,536               9,004
 Interest (expense)                    (20,129)            (21,504)
 Other income (expense)                ( 1,118)            ( 2,129)
                                     ---------           ---------
          Total                          7,872                 433
                                     ---------           ---------
Income before provision
 for income taxes                      139,772             113,168
                                    
Provision for income taxes              41,932              31,240
                                     ---------           ---------
Net income                         $    97,840         $    81,928
                                     =========           =========
Net income per share                      0.03                0.03
                                     =========           =========
Weighted average number
 of shares outstanding               3,403,688           3,268,858
                                     ---------           ---------

<PAGE>
                         MICRONETICS WIRELESS, INC.
                          STATEMENTS OF CASH FLOWS
                                 (UNAUDITED)


                                        Three Months Ended June 30,
                                        1998                 1997
                                    ------------         ----------


INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS:

Cash flows from operating
 Activities: 

Net income                              $  97,840        $  81,928

Adjustments to reconcile net
 income to net cash provided
 by operating activities:

Decrease in deferred tax asset             30,752           23,368

Depreciation and amortization              44,997           44,997

Changes in assets and liabilities:
 (Increase) decrease in accounts 
  receivable, inventories, prepaid 
  expenses and other current assets       214,219          104,550

(Increase) decrease in security 
 deposits and other assets                    335           (1,951)

(Decrease) increase in accounts
 payable accrued liabilities,
 notes payable and other current 
 liabilities                             (152,407)        (193,919)
                                        ---------         ---------
Net cash provided (utilized)
 by operating activities                $ 235,736        $  58,973
                                        =========         =========<PAGE>
   

                         MICRONETICS WIRELESS, INC.

                      STATEMENTS OF CASH FLOWS (CONT.)
                                 (UNAUDITED)


                                   Three Months Ended June 30,
                                      1998                1997
                                   ------------        ----------


INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS:

Cash Flows from Investment
 Activities:
  (Additions) to fixed assets       $  (15,665)        $  (17,993)
                                     ---------           --------
Net cash provided (used) by
 investment activities                 (15,665)           (17,993)
                                     ---------           --------
Cash Flows from Financing
 Activities:
  (Reduction) increase of debt
  and capitalized leases               (20,235)           (23,877)

  Proceeds from stock options
  exercised                              1,000               0
                                     ---------           --------
Net cash provided (used)
 by financing activities            $  (19,235)        $  (23,877)
                                     =========           ========
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS                $  200,836         $   17,103

Cash and cash equivalents, at
 beginning of year                   1,031,625            961,314
                                     ---------           --------
CASH AND CASH EQUIVALENTS, AT
END OF QUARTER                      $1,232,461         $  978,417
                                     =========           ========


<PAGE>
                         MICRONETICS, WIRELESS, INC.

                   NOTES TO CONDENSED FINANCIAL STATEMENTS



Note 1.   In the opinion of the Company, the accompany-
          ing unaudited consolidated condensed financial
          statements contain all adjustments (consisting
          of only normal recurring adjustments) which in
          the opinion of management are necessary in order
          to present fairly the financial position as of
          June 30, 1998 and 1997, the results of
          operations for the three month period ended June
          30, 1998 and 1997 and cash flows for the three
          month period ended June 30, 1998 and 1997.

          While the Company believes that the disclosures
          presented are adequate to make the information
          not misleading, it is suggested that these
          consolidated condensed financial statements be
          read in conjunction with the Company's Annual
          Report on Form 10-KSB for its fiscal year ended
          March 31, 1998.

          The results of operations for the three month
          period ended June 30, 1998 are not necessarily
          indicative of the results of the full year.


Note 2.   Inventories are summarized below:


                         June 30, 1998       March 31, 1997

     Raw materials and
      work-in-process     $ 1,155,769         $ 1,064,264
     Finished goods           338,975             357,421

     Total                $ 1,494,744         $ 1,421,685




<PAGE>
Item 2.   Management's Discussion and Analysis or Plan of Operation.


     Results of Operations

     The Company had revenues of $1,053,675 and $1,010,699 for the
three months ended June 30, 1998 and 1997, respectively, an increase
of $42,976 or 4% in the current period.  Gross profit as a percent of
net sales increased to 40.1% during the current period as compared to
39% during the corresponding period of the prior fiscal year. 
Selling, general and administrative expenses as a percent of net
sales for the current period remained at 22.5% during the current
period.  Research and development expenses were 5.1% of net sales
during the current period as compared to 5.4% of net sales a year
ago.

     The Company had net income of $97,840, or $.03 per share, as
compared to net income of $81,928, or $.03 per share, for the three
month periods ended June 30, 1998 and 1997, respectively.  This is an
increase of $15,912 or 19.4% in the current period.  The weighted
average shares outstanding for the three months ended June 30, 1998
and June 30, 1997, were 3,403,688 and 3,268,858, respectively.


     Financial Condition

     The Company's working capital at June 30, 1998 was $2,978,764,
an increase of $96,971 from $2,881,793, the working capital at March
31, 1998.  The Company's current ratio was approximately 6.15 to 1.0
at June 30, 1998; it was approximately 5.0 to 1.0 at March 31, 1998.

     Net cash of $235,736 was provided by operating activities during
the three months ended June 30, 1998 as compared to $58,973 during
the year earlier period.  This was primarily due to increased net
income and decreased accounts receivables.  Net cash utilized by
investing activities during the three months ended June 30, 1998 was
$15,665 as compared to $17,993 during the year earlier period.  This
use of cash was primarily due to the purchase of equipment.  Net cash
utilized by financing activities during the three months ended June
30, 1998 was $20,235, as compared to $23,877 during the year earlier
period.  The primary use of cash was to the reduction of debt.  As a
result of these activities, the Company's cash position increased by
$200,836 during the current three months as compared to an increase
of $17,103 in the year ago period.

     The Company is exploring its options with respect to software in
order to be in compliance with year 2000.  The Company does not
expect the costs associated with this to be material.







     Safe Harbor Statement


     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 lender.

<PAGE>
PART II.  OTHER INFORMATION

Item 2.   Changes in Securities and Use of Proceeds.

     (c)  Recent Sales of Unregistered Securities

     On June 16, 1998, the Company issued a five-year non-incentive
Stock Option to purchase 50,00 shares of Common Stock to a key
employee.  The option is exercisable at a price equal to $2.3125 per
share of Common Stock, that being the fair market value on the date
of grant and is exercisable at a rate of 50% per year commencing June
16, 1999.

Item 6.   Exhibits and Reports on Form 8-K.

     (a)  Exhibits

     3.1  Certificate of Incorporation of the Company, as amended,
          incorporated by reference to Exhibit 3.1 to Registration
          Statement No. 83-16453 (the "Registration Statement").

     3.2  By-Laws of the Company incorporated by reference to Exhibit
          3.2 of the Registration Statement.

     10.1 Incentive Stock Option Plan incorporated by reference to
          Exhibit 10.1 of the Registration Statement.

     10.3 Stock Option Plan approved by the Board of Directors of the
          Company incorporated by reference to Exhibit 10.8 of the
          1994 10-K.

     10.4 Loan Agreement dated February 2, 1996 between the Company
          and the Bank incorporated by reference to Exhibit 7(c)(1)
          of the Form 8-K filed with the Securities and Exchange
          Commission on February 16, 1996.

     10.5 Authorization and Debenture Guaranty Agreement dated
          February 2, 1996 between the Company and the U.S. Small
          Business Administration incorporated by reference to
          Exhibit 10.8 of the 1996 10-K.

     10.7 1996 Stock Option Plan incorporated by reference to Exhibit
          4.1 of Registration Statement No. 333-48087 filed on Form
          S-8.

     10.8 Employment Agreement dated September 19, 1996 between the
          Company and Richard S. Kalin incorporated by reference to
          Exhibit 10.8 of the 1998 10-K.

     27   Financial Data Schedule.

     (b)  Reports on Form 8-K

     During the quarter ended June 30, 1998, the registrant did not
file any reports on Form 8-K.



                                 SIGNATURE



     Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.



                                   MICRONETICS WIRELESS, INC.
                                    (Registrant)



Dated:  August 11, 1998       By:  s\ Richard S. Kalin           
                                   Richard S. Kalin,
                                   President (Principal Executive 
                                   and Financial Officer)
































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