FORM 10-QSB

                    SECURITIES AND EXCHANGE COMMISSION

                           Washington, DC  20549

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

For the quarterly period ended December 31, 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 registrant 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                      
           (Registrant's telephone number, including area code)

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

     Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Securities and Exchange Act of
1934 during the past 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:

     As of February 4, 1999, 3,769,138 shares of the Issuer's
common stock, par value $.01 per share were outstanding.

     Transitional Small Business Disclosure Format (check one);  

Yes       No  X 



                        MICRONETICS WIRELESS, INC.


                                   INDEX


                                                         Page No.

Part I.  Financial Information.

     Item 1.   Financial Statements.

               Condensed Balance Sheets -
               December 31, 1998 and March                  3-4
               31, 1998

               Condensed Statements of Operations-
               Three Months Ended December 31, 1998
               and 1997                                     5

               Condensed Statements of Operations -         6
               Nine Months Ended December 31, 1998
               and 1997

               Condensed Statement of Cash Flows -          7-8
               Nine Months Ended December 31, 1998
               and 1997

               Notes to Condensed Financial                 9
               Statements

     Item 2.   Management's Discussion and Analysis         10-11
               of Financial Condition and
               Results of Operations.

Part II.  Other Information.

     Item 2.   Changes in Securities and Use of Proceeds.   12

     Item 6.   Exhibits and Reports on Form 8-K.            12

               Signature                                    13








<PAGE>
                       PART I. FINANCIAL INFORMATION

Item 1.  Financial Statements.

                         MICRONETICS WIRELESS, INC.

                          CONDENSED BALANCE SHEETS
                                 (UNAUDITED)
                                   Assets
                          -----------------------------
   
                                   December 31,        March 31,
                                       1998              1998
                                   -----------        -----------
Current assets:
 Cash                              $ 1,167,355        $ 1,031,625
 Receivables (net of 
  allowance for doubtful
  accounts)                            962,297          1,010,219

 Inventories                         1,471,349          1,421,685

 Prepaid expenses and other 
  current assets                        85,403             37,238

 Deferred tax asset                          -             43,302

 Other current assets                   78,028             57,338
                                   -----------        -----------
Total current assets                 3,764,432          3,601,407

Fixed assets:
 Land                                  162,000            162,000

 Building and improvements             857,462            850,009

 Furniture, fixtures and
  equipment                          1,353,223          1,324,586

 Capitalized leases                     82,990             82,990
                                   -----------        -----------
  Gross fixed assets                 2,455,675          2,419,585
  Accumulated depreciation and     
    amortization                    (1,005,365)          (898,516)
                                   -----------        -----------
Total (net) fixed assets             1,450,310          1,521,069

Other assets:

 Deposits                                1,683              4,479

 Intangibles (net of amortization)      58,793             86,936
                                   -----------        -----------
Total other assets                      60,476             91,415
                                   -----------        -----------
Total assets                       $ 5,276,218        $ 5,213,891     
                                   ===========        ===========<PAGE>
        

                          MICRONETICS WIRELESS, INC.

                          CONDENSED BALANCE SHEETS
                                 (UNAUDITED)
                    Liabilities and Shareholders' Equity
                    ------------------------------------


                                   December 31,         March 31,
                                      1998                1998
                                   -----------        -----------
Current liabilities:

 Short-term loans and capitalized
  leases                           $   118,803        $   106,471

 Accounts payable                      179,405            321,713

 Accrued expenses and taxes, other
  than income taxes                    177,968            248,620

 Subordinated debentures                  0                25,000

 Income taxes payable                   44,163             17,810
                                   -----------        -----------     
 Total current liabilities             520,339            719,614          

Long-term debt:

 Capitalized leases                     16,388             40,308

 Notes payable - bank                  804,780            868,720
                                   -----------        -----------
 Total long-term debt                  821,168            909,028

Shareholders' equity:

 Common stock                           34,529             34,153
 Additional paid - in capital        2,540,324          2,535,137
 Retained earnings                   1,358,858          1,015,959
                                   -----------        -----------
Total shareholders' equity           3,933,711          3,585,249
                                   -----------        -----------
Total liabilities and
shareholders' equity               $ 5,275,218        $ 5,213,891     
                                   ===========        ===========<PAGE>
    

                         MICRONETICS WIRELESS, INC.

                     CONDENSED STATEMENTS OF OPERATIONS
                                 (UNAUDITED)
                     -----------------------------------


                                    Nine Months Ended December 31,
                                       1998               1997
                                    ----------        -----------


Operating revenues                  $3,297,823        $ 3,455,412
                                   
Cost of operations                   1,989,724          2,007,230     
                                     ---------          ---------
Gross profit                         1,308,099          1,448,182
                                     ---------          ---------
Selling, general and
 administrative expenses               799,528            875,388

Research and development               109,705            196,339
 expense                             ---------          ---------

Operating income                       398,866            376,457

Other income (expense):                                          
 Rental income                          46,504             45,187     
 Interest income                        28,265             27,796     
 Interest (expense)                    (58,855)           (58,729)
 Other income (expense)                (15,585)            15,770
                                     ---------          ---------
          Total                         31,499             30,024
                                     ---------          ---------

Income before taxes                    430,365            406,481

Provision for income taxes              87,466             88,105
                                     ---------          ---------
Net income                         $   342,899         $  318,376
                                     =========          =========
Net income per share               $      0.10         $     0.09
                                     =========          =========
Weighted average number
 of shares outstanding               3,403,688          3,370,753
                                     =========          =========<PAGE>
        

                      MICRONETICS WIRELESS, INC.

                     CONDENSED STATEMENTS OF OPERATIONS
                                 (UNAUDITED)
                -----------------------------------


                                   Three Months Ended December 31,
                                      1998               1997
                                   ----------          ----------


Operating revenues                 $1,095,089          $1,243,281
                                   
Cost of operations                    675,522             681,847          
                                    ---------           ---------
Gross profit                          419,567             561,434          

Selling, general and
 administrative expenses              277,923             337,683          

Research and development expense       21,027              83,727          
                                    ---------           ---------          
Operating income                      120,617             140,024          

Other income (expense):
 Rental income                         16,050              15,062     
 Interest income                        8,949               9,482
 Interest (expense)                   (19,054)            (21,077)    
 Other income (expense)                 3,821              (2,259)         
                                    ---------           ---------          
          Total                         9,766               1,208
                                    ---------           ---------
Income before taxes and 
 extraordinary item                   130,383             141,232          
                                    
Provision for income taxes             15,470              29,755          
                                    ---------           ---------          
Net income                         $  114,913          $  111,477
                                    =========           =========
Net income per share               $     0.03          $     0.03          
                                    =========           =========
Weighted average number
 of shares outstanding              3,403,688           3,370,753     
                                    =========           =========<PAGE>
        

                         MICRONETICS WIRELESS, INC.

                          STATEMENTS OF CASH FLOWS
                                 (UNAUDITED)
                        --------------------------


                                   Nine Months Ended December 31,
                                      1998                1997
                                   ----------          ----------


INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS:

Cash Flows from Operating          
 Activities:                                 

Net income                         $  342,899          $  206,898

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

Decrease in deferred tax asset         43,302              39,755          

Depreciation and amortization         134,991              89,994          

Changes in assets and liabilities:
 (Increase) decrease in accounts 
  receivable, inventories, prepaid 
  expenses and other current assets   (70,597)            (67,823)         

(Increase) decrease in security 
 deposits                               2,796              (4,391)
                              
(Decrease) increase in accounts    
 payable accrued liabilities,
 notes payable and other current 
 liabilities                         (199,275)            (94,003)
                                    ---------           ---------
Net cash provided (utilized)
 by operating activities           $  254,116          $  170,430
                                    =========           =========
<PAGE>
                         MICRONETICS WIRELESS, INC.

                          STATEMENTS OF CASH FLOWS
                                 (UNAUDITED)
                         --------------------------


                                    Nine Months Ended December 31,
                                       1998               1997
                                   ------------        -----------


INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS:

Cash Flows from Investment         
 Activities:                                 

(Additions) to fixed assets         $  (36,090)        $  (42,853)         
                                      --------          ---------
Net cash provided (used) by
 investment activities              $  (36,090)        $  (42,853)     
                                      --------          ---------
Cash Flows from Financing
 Activities:

 (Reduction) increase of debt
  and capitalized leases            $  (87,860)        $  (42,190)    

 Proceeds from stock options 
  exercised                              5,564              3,125          

 Proceeds from issuance of
  common stock                            0                  0

 Proceeds from issuance of
  subordinated convertible
  debentures                              0                  0
                                      --------          ---------
Net cash provided (used)
 by financing activities            $  (82,296)           (39,065)
                                      --------          ---------
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS                $  135,730         $   88,512          

Cash and cash equivalents, at
 beginning of year                   1,031,625            961,314     
                                     ---------          ---------
CASH AND CASH EQUIVALENTS, AT
END OF QUARTER                      $1,167,355         $1,049,826          
                                     =========          =========


<PAGE>
                         MICRONETICS WIRELESS, INC.

                 NOTES TO BE 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) necessary
          to present fairly the financial position as of
          December 31, 1998 and 1997, the results of
          operations for the three and nine month periods
          ended December 31, 1998 and 1997 and cash flows
          for the nine month periods ended December 31,
          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 and nine
          month periods ended December 31, 1998 are not
          necessarily indicative of the results of the
          full year.


Note 2.   Inventories are summarized below:


                           December 31, 1998    March 31, 1998

     Raw materials and
      work-in-process         1,153,133           1,064,264
     Finished goods             318,216             357,421
                    
     Total                    1,471,349           1,421,685






<PAGE>
Item 2.   Management's Discussion and Analysis of Financial 
                 Condition and Results of Operations.


     Results of Operations

     The Company had revenues of $1,095,089 and $1,243,281 for the
three months ended December 31, 1998 and 1997, respectively.  For the
three months ended December 31, 1998, sales of VCOs and control
components were up, but sales of equipment were down, as compared to
the prior period.  The Company's net income increased to $114,913, or
$.03 per share, as compared with net income of $111,477, or $.03 per
share, for the three month periods ended December 31, 1998 and 1997,
respectively.  

     The Company had revenues of $3,297,823 and $3,455,412 for the
nine months ended December 31, 1998 and 1997, respectively.  For the
nine months ended December 31, 1998, sales of VCOs and control
components were up, but equipment sales were down.  The Company had
net income of $342,899, or $.10 per share, and $318,376 or $.09 per
share, for the nine month periods ended December 31, 1998 and 1997,
respectively. 

     Gross profit as a percent of net sales for the three and nine
month periods ended December 31, 1998 was 38.4% and 39.7%,
respectively, as compared to 45.1% and 41.9%, respectively, during
the corresponding periods of the prior fiscal year.  This was largely
due to product mix.  Selling, general and administrative ("SGA")
expenses as a percent of net sales for the three months ended
December 31, 1998 was 25.4% as compared to 25.3% in the prior year. 
For the nine month period ended December 31, 1998, SGA as a percent
of net sales was 24.2% as compared to 25.3% for the prior period. 
Research and development ("R&D") expense declined to under 2% of net
sales from over 6% of net sales for the three months ended December
31, 1998 as compared to the prior year.  For the nine month period
ended December 31, 1998, R&D expenses were over 3.3% of net sales as
compared to 5.6% of net sales in the corresponding period of the
prior year.

     Financial Condition

     The Company's working capital at December 31, 1998 was
$3,244,000.  It was $2,882,000 at March 31, 1998.  The Company's
current ratio at December 31, 1998 was 7.2 to 1, and at March 31,
1998 it was 5.0 to 1. 

     Net cash provided by operations in the nine months ended
December 31, 1998 was $254,116 as compared to $170,430 in the prior
year.  Net cash utilized from investment activities was $36,090
during the nine months ended December 31, 1998 as compared to $42,853
used in the prior year.  This was primarily due to the purchase of
new equipment.  Net cash used by financing activities during the nine
months ended December 31, 1998 was $82,296, as compared to $39,065
used during the prior year.  This was largely due to the repayment of
debt during both periods.

     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 lenders.



<PAGE>
PART II - OTHER INFORMATION


Item 2.   Changes in Securities and Use of Proceeds.

     (c)  Recent Sales of Unregistered Securities.

          In January 1999, the Company issued an aggregate of 271,250
          unregistered shares of its Common Stock to Floyd S. Parin
          and Mark B. Goldman (collectively, the "Sellers") in
          connection with payment of $308,594 of the purchase price
          by the Company for all of the outstanding capital stock of
          Microwave & Video Systems, Inc.  These shares were issued
          pursuant to the exemption from registration provided under
          Regulation D promulgated pursuant to the Securities Act of
          1933.

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.

     3.3  Stock Purchase Agreement between the Company and Floyd S.
          Parin and Mark B. Goldman dated as of October 29, 1998.

     27   Financial Data Schedule.

     (b)  Reports on Form 8-K.

          During the quarter ended December 31, 1998, the registrant
          did not file any reports on Form 8-K.


















<PAGE>
                                  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:  February 10, 1999          /s/ Richard S. Kalin      
                                   Richard S. Kalin,
                                   President


































N:\RSKLAW\MICRONET\10Q-JAN.99