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MERRIMAC INDUSTRIES REPORTS FINANCIAL RESULTS

 WEST CALDWELL, N.J., July 13 /PRNewswire/ -- Merrimac Industries, Inc. (AMEX: MRM) announced today its second quarter results for 1993. Most significant is the restoration of excellent revenues and profits, showing as large percentage increases over the weak levels experienced in the same period in 1992, when the Company incurred high costs associated with its acquisitions. This conversion of the increased backlog into profitable revenues was forecast in the first quarter report, and the company again predicted a continuing strong revenue and profit picture for the remainder of this year.
 When compared to the same period in 1992, net sales rose 10.5 percent and produced a 613 percent increase in net income before taxes. The net income per share rose from $0.02 to $0.22.
 Merrimac Industries Inc., is located in West Caldwell, N.J. where it employs 120 persons in the manufacture of high performance components for communications, defense and aerospace. In year end results for 1992, Merrimac reported a net income of $369,843 from revenues of $12,444,624. Merrimac is listed as MRM on the American Stock Exchange.
 MERRIMAC INDUSTRIES, INC.
 Summary of Consolidated Statements of Income
 (Unaudited)
 Second quarter ended (A) 6/19/93 6/13/92 Pct. Change
 Net sales $3,092,721 $2,798,699 10.5
 Income before taxes 588,544 82,516 613.2
 Provision for income taxes 218,000 57,000 282.5
 Net income 370,544 25,516 1,352.2
 Net income per share .22 .02 1,000.0
 Weighted average common
 shares outstanding 1,692,439 1,671,907 --
 Twenty-Four weeks ended 6/19/93 6/13/92 Pct. Change
 Net sales $5,880,521 $5,649,438 4.1
 Income before taxes 904,316 455,937 98.3
 Provision for income taxes 297,000 188,000 58.0
 Net income 607,316 267,937 126.7
 Net income per share .36 .16 125.0
 Weighted average common
 shares outstanding 1,697,394 1,677,978 --
 (A) Quarters: First, second and fourth quarters consist of 12 weeks each, third quarter consists of 16 weeks.
 -0- 7/13/93
 /CONTACT: Paul Terranova of Merrimac Industries, 201-575-1300/
 (MRM)


CO: Merrimac Industries, Inc. ST: New Jersey IN: SU: ERN

PS-LG -- NY019 -- 0772 07/13/93 09:33 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
Words:380
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