A signal processing circuit utilizes a convolver correlating a reference carrier signal with a received signal. The correlator output is detected and then demodulated to output the signal information originally present on the carrier. For a conventional AM signal the reference carrier signal is applied at a frequency offset from the AM center frequency. When the carrier is an FM signal, the reference signal is applied at a frequency equal to the center frequency of the FM signal. Similar procedures are followed for a spread-modulated AM signal, and the reference signal is modulated with a suitably timed-reverse replica of the pseudo-noise code. A similar procedure is used to process spread-spectrum frequency shift keyed FM signals.