EIP Acquires Axiom, Releases Year End Figures

Microwave and RF test equipment manufacturer EIP Microwave has signed a definite agreement to acquire all outstanding share of Beaverton, OR-based Axiom Electronics for cash, promissory notes, and options to acquire shares of EIP. Axiom is a privately held process manufacturing and development company that provides services for original equipment manufacturers (OEMs) that require digital RF assembly, test, and integration.

Axiom and EIP expects to finish the transaction in Jan. 1999. Once completed, Axiom will become a wholly owned subsidiary of EIP.

EIP Microwave has also released its 1998 fiscal year results. The test manufacturer said it expects to report net sales of approximately $3.7 million for the fiscal year ended on Sept. 30, 1998. This sales total is down 22% from the previous year.

EIP also expects to record a net loss of approximately $4.1 million. This compares to a $1.3 million net loss in 1997.