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MERRIMAC INDUSTRIES REPORTS RESULTS

 WEST CALDWELL, N.J., April 28 /PRNewswire/ -- Merrimac Industries, Inc. (AMEX: MRM), announced today its first quarter results for 1993. Most significant is the substantial increase in orders received, which more than doubled those received in the same period in 1992. Unfortunately, time has not yet permitted us to convert the increased backlog into profitable revenues, but we believe that subsequent quarters will reflect increased profits since the additional backlog has been taken without compromising our pricing principles.
 When compared to the same period in 1992, net sales fell 2.2 percent and produced a 15.4 percent decrease in net income before taxes. The net income per share was unchanged at $.14.
 Merrimac Industries Inc., is located in West Caldwell 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 Statement of Income
 (Unaudited)
 First quarter ended(A) 3/27/93 3/21/92 Percent
 Change
 Net sales $ 2,787,800 $ 2,850,739 - 2.2
 Income before taxes 315,772 373,421 -15.4
 Provision for inc. taxes 79,000(B) 131,000 -39.7
 Net income 236,772 242,421 - 2.3
 Net income per share .14 .14 --
 Wtd. avg. common shares
 outstanding 1,693,229 1,683,387
 (A) First, second and fourth quarters consist of 12 weeks each, third quarter consists of 16 weeks.
 (B) Reflect a one time $50,000 tax benefit due to a change in accounting for income taxes per FASB No. 109.
 -0- 4/28/93
 /CONTACT: Paul Terranova of Merrimac Industries, 201-575-1300/
 (MRM)


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

SM-SH -- NY094 -- 2203 04/28/93 15:36 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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