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MERRIMAC INDUSTRIES REPORTS EARNINGS

 MERRIMAC INDUSTRIES REPORTS EARNINGS
 WEST CALDWELL, N.J., Feb. 4 /PRNewswire/ -- Merrimac Industries,


Inc. (AMEX: MRM) today issued the following:
 Merrimac Industries, Inc. would like to highlight the significant difference that exists between the weighted average common shares for the year 1991 and the actual shares outstanding as of Feb. 4, 1992 (Merrimac has repurchased stock during 1991 and early 1992) using actual shares outstanding of 1,704,248:
 -- Fourth quarter 1991 earnings per share are $0.11 per share down 56.25 percent from 1990.
 -- For the full year 1991 earnings per share $0.71 per share up 12.70 percent.
 We anticipate an increase in sales and profit for 1992 over 1991.
 MERRIMAC INDUSTRIES, INC.
 SUMMARY OF CONSOLIDATED STATEMENTS OF INCOME
 Period ended Fourth quarter(A)
 12/28/91 12/29/90 Percent
 (Unaudited) (Audited) Change
 Net sales $2,711,884 $3,878,866 -30.09
 Income before taxes 268,505 807,633 -66.75
 Provision for income taxes 89,000 288,000 -69.10
 Net income 179,505 519,633 -65.46
 Net income per share .09 .24 -62.50
 Weighted average common
 shares outstanding 1,925,259 2,142,500
 Periods ended Year Ended
 12/28/91 12/29/90 Percent
 (Unaudited) (Audited) Change
 Net sales $12,956,188 $14,739,326 -12.10
 Income before taxes 1,861,492 2,106,044 -11.61
 Provision for income taxes 650,000 724,000 -10.22
 Net income 1,211,492 1,382,044 -12.34
 Net income per share .58 .63 -7.94
 Weighted average common
 shares outstanding 2,072,325 2,205,775
 (A) First, second and fourth quarters consist of twelve weeks each, third quarter consists of sixteen weeks.
 -0- 2/4/92
 /CONTACT: Paul Terranova of Merrimac Industries, 201-575-1300/
 (MRM) CO: Merrimac Industries Inc. ST: New Jersey IN: SU: ERN SH-TM -- NY075 -- 6818 02/04/92 15:28 EST
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Publication:PR Newswire
Date:Feb 4, 1992
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