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MERRIMAC INDUSTRIES REPORTS RESULTS

 MERRIMAC INDUSTRIES REPORTS RESULTS
 WEST CALDWELL, N.J., July 31 /PRNewswire/ -- Merrimac Industries,


Inc. (AMEX: MRM) announced today its second quarter results for 1992.
 When compared to the same period in 1991, net sales fell 21 percent and produced a 94 percent decrease in net income before taxes. The net income per share fell by 91 percent, in part due to the cost of absorbing the acquisitions of BTI, now known as Merrimac (Ontario), Ltd., and Microwave Research and Development. It is anticipated that these same acquisitions will greatly assist in reversing the drop in revenue and profits that occurred in the second quarter.
 Merrimac Industries Inc., is headquartered in West Caldwell, where it employs 120 people in the manufacture of high-performance components for communications, defense and aerospace. In year-end results for 1991, Merrimac reported a net income of $1,211,492 from revenues of $12,956,188.
 MERRIMAC INDUSTRIES
 Summary of Consolidated Statements of Income
 (unaudited)
 Second quarter ended(A) 6/13/92 6/15/91 Pct.
 Change
 Net sales $2,798,699 $3,541,725 -21.0
 Inc. before taxes 82,516 713,723 -88.4
 Provision for inc. taxes 57,000 259,000 -78.0
 Net income 25,516 454,723 -94.4
 Net inc. per share $.02 $.22 -90.9
 Weighted avg. common
 shares outstg. 1,671,907 2,104,267 --
 24 weeks ended 6/13/92 6/15/91 Pct.
 Change
 Net sales $5,649,438 $6,359,826 -11.2
 Inc. before taxes 455,937 1,080 702 -57.8
 Provision for inc. taxes 188,000 385,000 -51.2
 Net income 267,937 695,702 -61.5
 Net inc. per share $.16 $.33 -51.5
 Weighted avg. common
 shares outstg. 1,677,978 2,113,611 --
 (A) -- First, second and fourth quarters consist of 12 weeks each, third quarter consists of 16 weeks.
 -0- 7/31/92
 /CONTACT: Paul Terranova of Merrimac, 201-575-1300/
 (MRM) CO: Merrimac Industries Inc. ST: New Jersey IN: ARO SU: ERN


CK-LR -- NY040 -- 5604 07/31/92 12:32 EDT
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Publication:PR Newswire
Date:Jul 31, 1992
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