An acoustic or ultrasonic device includes two ultrasonic energy transmission paths having substantially identical transmission characteristics for a neutral condition of the device. One or both of the transmission paths include path altering structure(s) or coating(s) for changing the transmission characteristics of one or both of the paths in response to a physical phenomenon to be sensed or monitored. The paths have input transducers coupled thereto for transmitting ultrasonic energy into the paths. The input transducers are driven by a single oscillator such that the ultrasonic energy waves generated in the two paths are substantially identical to one another. A drive adjusting circuit compensates for any differences between the two paths and/or the ultrasonic waves in the two paths. An output transducer is coupled to the two paths for receiving ultrasonic waves from the paths and generating an output signal which is the result of combining the acoustic or ultrasonic waves from the two paths. By combining the waves from the two paths, the output signal is effectively the interference pattern generated by the waves in the two paths and hence the device operates as an acoustic or ultrasonic energy interferometer to sense or monitor physical phenomena to which the path altering structure(s) or coating(s) respond.