4                         UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                           FORM 10-QSB

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

For the quarterly period ended June 30, 1997

                               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)

     Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act 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 [ ]

     State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date.

                                             Outstanding at
Class of Common Stock                        July 24, 1997

   $.01 par share                              3,188,658



            Page 1 of 11. There is no Exhibit Index.


                  <PAGE>
MICRONETICS WIRELESS, INC.


                              INDEX


                                                  Page No.

Part I.  Financial Information

     Item 1.   Financial Statements

               Condensed Balance Sheets -
               June 30, 1997 and March 31, 1997        3-4

               Condensed Statements of Operations-
               Three Months Ended June 30, 1997 and
               June 30, 1996                           5

               Condensed Statements of Cash Flows -
               Three Months Ended June 30, 1997
               and June 30, 1996                       6-7

               Notes to Condensed Financial
               Statements                              8

     Item 2.   Management's Discussion and Analysis    9

Part II.  Other Information

     Item 6.   Exhibits and Reports on Form 8-K        10

Signature                                              11


<PAGE>
                 PART I. FINANCIAL INFORMATION
<TABLE>
<CAPTION>
                    MICRONETICS WIRELESS, INC.
                     CONDENSED BALANCE SHEETS
                            (UNAUDITED)
                              Assets
                         --------------
                                     June 30,           March 31,
                                       1997               1997
                                   -----------------------------
<S>                                <C>                   <C>
CURRENT ASSETS:
 Cash                              $  978,417          $  961,314

Receivables
 Trade (net of allowance for
 doubtful accounts)                   664,873             755,716

Inventories (note 2)                1,150,396           1,151,640

Prepaid expenses and other 
 current assets                        37,105              43,318

Deferred tax asset                     95,113             118,481

Other current assets                     0                  6,250
                                    ---------           ---------
TOTAL CURRENT ASSETS                2,925,904           3,036,719

FIXED ASSETS                  

Land                                  162,000             162,000
Building & Improvements               846,547             846,547
Furniture, Fixtures, and
 Equipment                          1,287,662           1,269,938
Capitalized Leases                     33,500              33,500
                                    ---------           ---------
 Gross Fixed Assets                 2,329,709           2,311,985
 Accumulated Depreciation            
  and Amortization                   (844,069)           (800,030)
                                    ---------           ---------
TOTAL (NET) FIXED ASSETS            1,485,640           1,511,955

OTHER ASSETS

 Deposits                               3,053               1,102

 Intangibles (Net of                   97,417              98,375
  Amortization)
                                    ---------           ---------
TOTAL OTHER ASSETS                    100,470              99,477
                                    ---------           ---------
TOTAL ASSETS                       $4,512,014          $4,648,151
                                    =========           =========


                    <PAGE>
MICRONETICS WIRELESS, INC.
<CAPTION>
                     CONDENSED BALANCE SHEETS
                            (UNAUDITED)
               Liabilities and Shareholders' Equity
          --------------------------------------------

                                     June 30,           March 31,
                                       1997               1997
                                   -----------------------------
<S>                                  <C>                 <C>
CURRENT LIABILITIES:

 Short term loans and capitalized
  leases                             $  94,229          $  91,703
 Accounts payable                      157,806            374,746
 Accrued expenses and taxes, other
  than income taxes                    167,297            155,953
 Subordinated Debentures                25,000             25,000
 Income taxes payable                   40,499             31,618
                                       -------            -------
TOTAL CURRENT LIABILITIES              484,831            679,020

LONG-TERM DEBT:

 Capitalized leases                      3,464              7,616
 Notes Payable - Bank                  928,297            948,022
                                       -------            -------
TOTAL LONG-TERM DEBT                   931,761            955,638

SHAREHOLDER'S EQUITY

 Common stock                           31,887             31,887
 Additional paid-in capital          2,393,748          2,393,748
 Retained earnings (deficit)           669,787            587,858
                                     ---------          ---------
TOTAL SHAREHOLDERS' EQUITY           3,095,422          3,013,493
                                     ---------          ---------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY                $4,512,014         $4,648,151
                                     =========          =========

                    <PAGE>
MICRONETICS WIRELESS, INC.
<CAPTION>
                 CONDENSED STATEMENT OF OPERATIONS
                            (UNAUDITED)

          --------------------------------------------


                                        3 Months Ended June 30,
                                      1997                  1996
                                   -----------          ---------
<S>                                <C>                  <C>
Operating revenues                 $ 1,010,699         $  848,847
                                   
Cost of operations                     616,083            481,501
                                     ---------          ---------
Gross profit                           394,616            367,346

Selling, general and
 administrative expenses               227,561            220,197

Research & Development                  54,320             44,058
                                     ---------          ---------
Operating income                       112,735            103,091

Other income (expense):
 Rental income                          15,062             15,062
 Interest income                         9,004                651
 Interest expense                      (21,504)           (23,279)
 Other income                           (2,129)            (2,253)
                                     ---------          ---------
          Total                            433             (9,819)
                                     ---------          ---------
Income before provision
 for income taxes                      113,168             93,272 

Provision for income taxes              31,240             31,000
                                     ---------          ---------
Net income                         $    81,928          $  62,272
                                     =========          =========
Net income per share               $      0.03         $     0.02
                                     =========          =========
Weighted average number
 of shares outstanding               3,268,858          3,268,858
                                     ---------          ---------






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

          --------------------------------------------
                                         3 Months Ended June 30,  
                                      1997                  1996
                                --------------         ----------
<S>                                   <C>               <C>
INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS:

Cash Flows from operating          
 Activities:                  

Net income                         $   81,928            $  62,272

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

Decrease in deferred tax asset         23,368               31,000

Depreciation and amortization          44,997               32,045

Changes in assets and liabilities:
 (Increase) decrease in accounts 
  receivable, inventories, prepaid 
  expenses and other current assets   104,550               56,913

(Increase) decrease in security        
 deposits and other assets             (1,951)                (615)

(Increase) in insurance receivable        0                      0

(Decrease) increase in accounts      
 payable accrued liabilities,
 notes payable and other current 
 liabilities                         (193,919)             (75,749)

Increase (decrease) in deferred 
 sales                                    0                  9,342
                                    ---------           ----------
Net cash provided (utilized)
by operating activities             $  58,973           $  115,208
                                    =========           ==========


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

          --------------------------------------------
                                         3 Months Ended June 30,  
                                      1997                  1996
                                --------------         ----------
<S>                               <C>                   <C>
INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS:

Cash Flows from Investment         
 Activities:                                 
  (Additions) to fixed assets      $  (17,993)         $  (26,694)
                                    ---------           ---------
Net cash provided (used) by
 investment activities                (17,993)            (26,694)
                                    ---------           ---------
Cash Flows from Financing
 Activities:
  (Reduction) increase of debt
    and capitalized leases            (23,877)            (23,801)

  Proceeds from stock options 
    exercised                            0                  1,000
  
  Proceeds from issuance of common
   stock                                 0                      0

  Proceeds from issuance of
    subordinated convertible 
    debentures                           0                      0
                                    ---------           ---------
Net cash provided (used)
 by financing activities              (23,877)            (22,801)
                                    ---------           ---------
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS                   17,103              65,713

Cash and cash equivalents, at
 beginning of year                    961,314             146,674
                                    ---------           ---------
CASH AND CASH EQUIVALENTS, AT
END OF QUARTER                     $  978,417           $ 212,387
                                    =========           =========
</TABLE>


<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, 1997 and 1996, the results of
          operations for the three month periods ended
          June 30, 1997 and 1996 and cash flows for the
          three month periods ended June 30, 1997 and
          1996.

          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, 1997.

          The results of operations for the three month
          period ended June 30, 1997 are not necessarily
          indicative of the results of the full year.

Note 2.   Inventories are summarized below:

                          June 30, 1997           March 31, 1997

     Raw materials and
      work-in-process      $   984,508             $   974,337
     Finished goods            165,888                 177,303
                             ---------               ---------
     Total                 $ 1,150,396             $ 1,151,640
                             =========               =========
<PAGE>
Item 2.  Management's Discussion and Analysis 

     Results of Operations

     The Company had revenues of $1,010,699 and $848,847 for the
three months ended June 30, 1997 and 1996, respectively, an increase
of $161,852 or 19% in the current period.  Gross profit as a percent
of net sales decreased to 39% during the current period as compared
to 43.3% during the corresponding period of the prior fiscal year. 
Selling, general and administrative expenses as a percent of net
sales for the current period fell to 22.5% as compared to 25.9% for
the corresponding year earlier period.  Research and development
expenses were 5.4% of net sales during the current period as compared
to 5.2% of net sales a year ago.

     The Company had net income of $81,928, or $.03 per share, as
compared to net income of $62,272, or $.02 per share, for the three
month periods ended June 30, 1997 and 1996, respectively.  This is an
increase of $19,656 or 31.6% in the current period.  The weighted
average shares outstanding for the three months ended June 30, 1997
and June 30, 1996, were 3,268,858.

     Financial Condition

     The Company's working capital at June 30, 1997 was $2,441,073, 
a decrease of $83,104 from $2,357,969, the working capital at March
31, 1997.  The Company's current ratio was approximately 6.03 to 1 at
June 30, 1997; it was approximately 4.47 to 1 at March 31, 1997.  

     Net cash of $58,973 was provided by operating activities during
the three months ended June 30, 1997 as compared to $115,208 during
the year earlier period.  This was primarily due to a decrease in
accounts receivable and accounts payable during the quarter, as
compared to an increase in such receivables and payables during the
year earlier period.  Net cash utilized by investing activities
during the three months ended June 30, 1997 was $17,993 as compared
to $26,694 during the year earlier period.  This use of cash was
primarily due to the Company's purchase of equipment during both
periods.  Net cash utilized by financing activities during the three
months ended June 30, 1997 was $23,877, as compared to $22,801 during
the year earlier period.  The primary use of cash was to reduce debt
in both periods.  As a result of these activities, the Company's cash
position increased by $17,103 during the current three months as
compared to an increase of $65,713 in the year ago period.


<PAGE>
                   PART II - OTHER INFORMATION


Item 6.  Exhibits and Reports on Form 8-K

     (b)  During the quarter ended June 30, 1997, the registrant did
not file any reports on Form 8-K.

<PAGE>
                            SIGNATURE



     In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                   MICRONETICS WIRELESS, INC.
                                    (Registrant)



Dated: August 4, 1997         By:  s/Richard S. Kalin          
                                   Richard S. Kalin,
                                   President (Principal Executive
                                   and Financial Officer)








wp51\micronet\10-Q-JUN.97