FORM 10-QSB/A

               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 September 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 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)

     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 October 31, 1997.

3,293,798 shares of common stock, par value $.01 per share.


                          Page 1 of 12
                   There is no Exhibit Index.

<PAGE>

                   MICRONETICS WIRELESS, INC.


                              INDEX



Part I.  Financial Information                             Page No.

     Item 1.   Financial Statements

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

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

               Condensed Statements of Operations -             6
               Six Months Ended September 30, 1997
               and 1996

               Condensed Statements of Cash Flows -           7-8
               Six Months Ended September 30, 1997
               and 1996

               Notes to Condensed Financial                     9
               Statements

     Item 2.   Management's Discussion and Analysis            10
               of Financial Condition and
               Result of Operations

Part II.  Other Information

     Item 2.   Submission of Matters to a Vote of              11
               Security Holders

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

Signature                                                      12










<PAGE>
                 PART I. FINANCIAL INFORMATION

                    MICRONETICS WIRELESS, INC.
<TABLE>
<CAPTION>
                     CONDENSED BALANCE SHEETS
                            (UNAUDITED)
                              Assets
                         --------------
                                   September 30,        March 31,
                                       1997               1997
                                   -----------------------------
<S>                                 <C>                 <C>
Current assets:
 Cash                              $1,049,826          $  961,314

Receivables
 Trade (net of allowance for
 doubtful accounts)                   720,278             755,716

Inventories (note 2)                1,272,440           1,151,640

Prepaid expenses and other 
 current assets                        28,218              43,348

Deferred tax asset                     78,725             118,481

Other current assets                    3,811               6,250
                                    ---------           ---------
Total current assets                3,153,298           3,036,719

Fixed assets:
 Land                                 162,000             162,000

 Building & improvements              848,809             846,547

 Furniture, fixtures and
   equipment                        1,285,530           1,269,938

 Capitalized leases                    33,500              33,500
                                    ---------           ---------
  Gross fixed assets                2,329,839           2,311,985
  Accumulated depreciation and       (863,111)           (800,030)
    amortization                    ---------           ---------

Total (net) fixed assets            1,466,728           1,511,955

Other assets:

 Deposits                               5,493               1,102

 Intangibles (net of amortization)     96,462              98,375
                                    ---------           ---------
Total other assets                    101,955              99,477
                                    ---------           ---------
Total assets                       $4,721,981          $4,648,151
                                    =========           =========

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

                                   September 30,        March 31,
                                       1997               1997   
                                   -----------------------------
<S>                                  <C>                <C>
Current liabilities:

Short term loans and capitalized
 leases                            $   88,950          $   91,703

Accounts payable                      214,602             374,746

Accrued expenses and taxes, other
 than income taxes                    204,244             155,953

Subordinated debentures                25,000              25,000

Income taxes payable                   52,221              31,648
                                    ---------           ---------
Total current liabilities             585,017             679,020

Long term debt:

Capitalized leases                      7,626               7,616

Notes payable - bank                  905,822             948,022
                                    ---------           ---------
Total long-term debt                  913,448             955,638

Shareholders' equity:

 Common stock                          31,937              31,887
 Additional paid - in capital       2,396,823           2,393,748
 Retained earnings                    794,756             587,858
                                   ----------           ---------
Total shareholders' equity          3,223,516           3,013,493
                                   ----------           ---------
Total liabilities and
shareholders' equity               $4,721,981          $4,648,151
                                   ==========           =========

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

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

                                3 Months Ended September 30,
                                      1997                  1996
                                --------------         ----------
<S>                                <C>                   <C>
Operating revenues                 $1,201,432           $ 935,202

Cost of operations                    709,300             524,227
                                    ---------           ---------
Gross profit                          492,132             410,975
                                    ---------           ---------
Selling, general and
 administrative expenses              310,143             223,424

Research & development                 58,292              46,048
 expense                            ---------           ---------

Operating income                      123,697             141,503

Other income (expense):
 Rental income                         15,063              15,063
 Interest income                        9,310               1,726
 Interest (expense)                   (16,148)            (23,144)
 Other income (expense)                20,158              (2,318)
                                    ---------           ---------
          Total                        28,383              (8,673)
                                    ---------           ---------
Income before taxes and
 extraordinary items                  152,080             132,830

Provision for income taxes             27,110              24,800
                                    ---------           ---------
Income before extraordinary 
 item                              $  124,970           $ 108,030

Extraordinary item --
 insurance settlement                    -                 98,566
                                    ---------           ---------
Net income                            124,970             206,596
                                    =========           =========
Net income per share
 Before extraordinary item         $     0.04           $    0.03
 Extraordinary item                      -                   0.03
                                    ---------           ---------
Net income per share               $     0.04           $    0.06
                                    =========           =========
Weighted average number
 of shares outstanding              3,370,753           3,268,858
                                    =========           =========

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

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


                                6 Months Ended September 30,
                                      1997                  1996
                                --------------        ----------
<S>                               <C>                    <C>
Operating revenues              $ 2,212,131           $ 1,784,049 
 
Cost of operations                1,325,383             1,005,728
                                  ---------             ---------
Gross profit                        886,748               778,321

Selling, general and
 administrative expenses            537,704               443,621

Research & development expense      112,612                90,106   
                                  ---------             ---------
Operating income                    236,432               244,594

Other income (expense):
 Rental income                       30,125                30,125
 Interest income                     18,314                 2,377
 Interest (expense)                 (37,652)              (46,423)
 Other income (expense)              18,029                (4,571)  
                                  ---------             ---------
          Total                      28,816               (18,492)
                                  ---------             ---------
Income before taxes and 
 extraordinary item                 265,248               226,102

Provision for income taxes           58,350                46,000   
                                  ---------             ---------
Income before extraordinary
 item                               206,898               180,102

Extraordinary item --
 Insurance settlement                  -                   98,566
                                  ---------             ---------
Net income                        $ 206,898             $ 278,668
                                  =========             =========
Net income per share
 Before extraordinary item        $    0.06             $    0.06
 Extraordinary item                    -                     0.03
                                  ---------             ---------
 Net income per share             $    0.06             $    0.09
                                  =========             =========
Weighted average number
 of shares outstanding            3,370,753             3,268,858
                                  =========             =========

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

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

Cash Flows from operating
 Activities: 

Net income                         $  206,898         $   278,668

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

Decrease in deferred tax asset         39,755              70,000

Depreciation and amortization          89,994              64,614

Changes in assets and liabilities:
 (Increase) decrease in accounts 
   receivable, inventories, prepaid 
   expenses and other current assets  (67,823)             30,445

(Increase) decrease in security 
  deposits and other assets            (4,391)             (1,130)

(Increase) decrease in insurance 
  receivable                              0               596,376

(Decrease) increase in accounts
  payable accrued liabilities,
  notes payable and other current 
  liabilities                         (94,003)            (14,879)

Increase (decrease) in deferred
 sales                                    0                 6,066
                                      --------          ---------
Net cash provided (utilized)
 by operating activities           $   170,430        $ 1,030,160
                                      --------          ---------

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


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

Cash Flows from Investment
 Activities: 
  (Additions) to fixed assets       $   (42,853)      $   (46,190)
                                      ---------         ---------
Net cash provided (used) by
 investment activities                  (42,853)          (46,190)
                                      ---------         ---------
Cash Flows from Financing
 Activities:
  (Reduction) increase of debt
  and capitalized leases                (42,190)          (53,715)

  Proceeds from stock options 
  exercised                               3,125             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                (39,065)          (52,715)
                                      ---------         ---------
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS                     88,512           931,255

Cash and cash equivalents, at
 beginning of year                      961,314           146,674
                                      ---------         ---------
CASH AND CASH EQUIVALENTS, AT
END OF QUARTER                      $ 1,049,826       $ 1,077,929
                                      =========         =========
</TABLE>

<PAGE>

                    MICRONETICS WIRELESS, INC.

              NOTES TO CONDENSED FINANCIAL STATEMENTS


Note 1.   In the opinion of the Company, the accompanying
          unaudited consolidated condensed financial
          statements contain all adjustments (consisting
          of only normal recurring adjustments) necessary
          to present fairly the financial position as of
          September 30, 1997 and 1996, the results of
          operations for the three month and six month
          periods ended September 30, 1997 and 1996 and
          cash flows for the six month periods ended
          September 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 and six
          month periods ended September 30, 1997 are not
          necessarily indicative of the results of the
          full year.

Note 2.   Inventories are summarized below:


                          September 30, 1997       March 31, 1997 

     Raw materials and
      work-in-process      $   996,487             $   974,337
     Finished goods            275,953                 177,303

     Total                 $ 1,272,440             $ 1,151,640














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



     Results of Operations


     The Company had revenues of $1,201,432 and $935,202 for the
three months ended September 30, 1997 and 1996, respectively, an
increase of 28.4% compared to the prior period.  The Company had net
income of $124,970 or $.04 per share, as compared with net income of
$206,596 or $.06 per share, for the three month periods ended
September 30, 1997 and 1996, respectively.  The Company had revenues
of $2,212,131 and $1,784,049 for the six months ended September 30,
1997 and 1996, respectively, an increase of 23.9% over the prior
period.  The Company had net income of $206,898 or $.06 per share,
and $278,668 or $.09 per share, for the six month periods ended
September 30, 1997 and 1996, respectively.  The three and six month
periods ended September 30, 1996 included $98,566 or $.03 per share
extraordinary gain from an insurance settlement.

     Gross profit as a percent of net sales for the three months
ended September 30, 1997 was 40.9% compared to 43.9% during the
corresponding period of the prior fiscal year.  For the six month
periods ended September 30, 1997 and 1996 gross profit as a percent
of net sales was 40.1% and 43.6%, respectively.  The decreases during
the current periods were due to the introduction of certain new
products which required higher start-up manufacturing costs. 
Selling, general and administrative expenses ("SGA") as a percent of
net sales for the three months ended September 30, 1997 increased to
25.8% as compared to 23.9% in the prior year.  The Company increased
its advertising expenses during the current period.  For the six
month period ended September 30, 1997, SGA as a percent of net sales
decreased to 24.3% from 24.9% in the year earlier period.  Research
and development expenses ("R&D") as a percent of net sales for the
periods presented were approximately the same as a percent of net
sales.


     Financial Condition


     The Company's working capital at September 30, 1997 was
$2,568,281.  It was $2,357,699 at March 31, 1997.  The Company's
current ratio was 5.39 to 1 at September 30, 1997, as compared to 
4.47 to 1 at March 31, 1997.  

     The Company generated cash from operating activities in the
amount of $170,430 during the six months ended September 30, 1997 as
compared to $1,030,160 in the year earlier period.  A large part of
the increase last year was due to an insurance settlement.  The
Company purchased $42,853 of new equipment during the six months
ended September 30, 1997, as compared to $46,190 a year ago.  The
Company used $39,065 for financing activities during the six months
ended September 30, 1997, as compared to a use of $52,715 related to
financing activities during the year earlier period.  As a result,
the Company's cash and cash equivalents increased from $961,314 at
March 31, 1997 to $1,049,826 at September 30, 1997.


     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.  Submission of Matters to a Vote of Security Holders

     On October 7, 1997, at the Company's Annual Meeting of
Shareholders, the Company's shareholders elected management's slate
of directors, which included Messrs.  Richard S. Kalin, David Siegel,
Roy L. Boe and Ms. Barbara Meirisch.  Mr. Kalin received 2,280,705
votes for, 0 against and 20,680 withheld.  Mr. Siegel received
2,280,705 votes for, 0 against and 21,880 withheld.  Mr. Boe received
2,280,705 votes for, 0 votes against and 20,480 withheld.  Ms.
Meirisch received 2,280,705 votes for, 0 votes against and 21,780
withheld.  



Item 6.  Exhibits and Reports on Form 8-K

     (b)  During the quarter ended September 30, 1997, 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.




Dated: November 25, 1997           s/Richard S. Kalin        
                                   Richard S. Kalin,
                                   President and Chief
                                     Financial Officer








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