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MERRIMAC INDUSTRIES REPORTS RESULTS

 WEST CALDWELL, N.J., Jan. 3 /PRNewswire/ -- Merrimac Industries, Inc. (AMEX: MRM), today reported that its unaudited after tax earnings for 48 weeks of 1993, ending Dec. 4, 1993, exceeded $1 per share. This performance is ahead of the earlier predictions made by Merrimac and assures shareholders of a strong bottom line for the complete fiscal year which ends Jan. 1, 1994. Other details for the 48 weeks are as follows:
 Sales $13,250,000
 Net income $ 1,757,000
 Earnings per share $1.01
 Net profit margin 13.3%
 Gross profit margin 51.5%
 Sales to assets 87.8%
 Return on assets 11.6%
 Return on equity 13.9%
 Total debt to assets 16.4%
 Current ratio 4.5:1
 Quick ration 2.52:1
 For the same 48 week period of fiscal 1992, sales were $10,877,000, net income was $291,000 and earnings per share was 17 cents. Already announced is the plan to increase quarterly dividends in 1994 by 33.3% to 10 cents per share, reflecting the growth in revenues and profits.
 Merrimac Industries, Inc. is located in West Caldwell, N.J. where it employs 130 persons in the manufacture of high performance components for communications, defense and aerospace. Merrimac is listed as MRM on the American Stock Exchange.
 -0- 1/3/94
 /CONTACT: Paul Terranova, chairman of Merrimac, 201-575-1300/
 (MRM)


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

SH-MP -- NY039 -- 8510 01/03/94 12:53 EST
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Publication:PR Newswire
Date:Jan 3, 1994
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