Mackie Designs Reports First Quarter Results

April 26, 2002 – Woodinville, WA – Mackie Designs Inc. (NASDAQ:MKIE) announced today that revenue for the first quarter of 2002 was $49,119,000. This compares to revenue of $46,855,000 for the fourth quarter of 2001 and $57,208,000 for the first quarter of 2001. Operating income for this year's first quarter was $773,000 compared to an operating loss of $172,000 for the fourth quarter of 2001 and operating income of $3,019,000 for the year-earlier period. The net loss for the 2002 first quarter was $246,000, or $0.02 per share. This compares to a net loss of $660,000, or $0.05 per share, for the fourth quarter of 2001 and net income of $962,000, or $0.08 per diluted share, for the first quarter of 2001.

First Quarter Review
"It appears that the worst of the global slowdown in the professional audio industry may be behind us. Revenue was up in the first quarter compared to the 2001 fourth quarter. Mackie's bottom-line performance for this year's first quarter also improved compared to the fourth quarter, which in turn was an improvement compared to the third quarter. Gross margin also continued its upward march, rising to 32.4% for the 2002 first quarter from 30.2% for the 2001 fourth quarter and 23.8% for the third quarter of 2001. We expect these positive trends to continue," said Chief Executive Officer Jamie Engen.

Engen added, "Mackie is one of the most respected names in professional audio, and our global distribution capabilities are second to none. Because we pursued our aggressive new product and corporate infrastructure development programs throughout the global downturn, Mackie is now exceptionally well positioned to prosper as the industry gains momentum.

"In the past year we introduced advanced new, feature rich products throughout our core audio mixer and loudspeaker lines, products that offer improved designs and lower manufacturing costs. We also entered new pro audio markets with substantial incremental growth potential. For example, our new Broadcast Professional product line targeted at the high-end professional broadcast and post-production sound market opens a several hundred million dollar market to Mackie for the first time. We already have received orders in excess of $2,000,000 for these new products.

"New products are not the only reason for our optimism. We expect that our offshore manufacturing initiatives and the many organizational enhancements we have made and are continuing to make will help us continue to push gross margin toward our long-term goal of 38-40%, and improve operating margin toward the range of 10-12% that we believe is achievable. We are bullish about Mackie's future."

Accounting Change - FASB 142
Effective January 1, 2002, Mackie adopted Financial Accounting Standard No. 142 (Goodwill and Other Intangible Assets), which requires goodwill not to be amortized but to remain on the balance sheet and be tested annually for impairment. The financial statements reflect this lower amortization of intangibles. Amortization of goodwill for the first quarter of 2001 was $320,000.

Conference Call
Mackie will host a conference call today at 11:00 AM ET. A real-time WebCast and replay can be accessed at www.CompanyBoardroom.com or at www.Mackie.com. For a telephone replay, dial (800) 633-8284, reservation #20522351, one hour after the call.

About Mackie Designs
Mackie Designs is a leading designer, manufacturer and marketer of professional audio equipment. The Company sells audio mixers, mixer systems, power amplifiers, and professional loudspeakers.

Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: changes in demand for the Company's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, difficulties encountered in the integration of acquired businesses and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

"Mackie" is a registered trademark of Mackie Designs Inc. in the United States and other countries.