WEST CALDWELL, N.J., July 7 /PRNewswire-FirstCall/ -- Merrimac Industries,
Inc. (Amex: MRM) today announced that it has received a $1.0 million Multi-
Mix(R) order from a leading defense system contractor to continue to provide a
sophisticated three-dimensional (3D) multilayer integrated assembly for use in
an Electronic Countermeasures (ECM) application. To date, Merrimac has
delivered $3.0 million on existing contract releases for this product. The
potential revenue to be derived from this new order is currently estimated at
approximately $1.2 million as the United States Government continues to
release contracts.
Chairman and CEO Mason N. Carter commented, "The initial size, weight,
reduction in the number of parts and cost savings offered by Multi-Mix(R),
enables us to pass on additional cost savings to our customer as a result of
our continuous Multi-Mix(R) process improvement initiatives. The Multi-Mix(R)
value contribution to this detection system continues to be remarkable over
the life span of this product."
Carter continued, "In addition to the Multi-Mix(R) design, the 3D
multilayer integrated assembly is considered a highly manufactureable 'tile'
solution which replaces the traditional 'brick' approach which is often used
today in military designs. We anticipate military design engineers to further
reduce size, weight, number of parts and cost by using 3D Integrated Multi-
Mix(R) solutions. Our Multi-Mix(R) solution makes it very compatible with our
customer's manufacturing processes and further reduces their assembly costs."
About Merrimac
Celebrating its 50th anniversary, Merrimac Industries, Inc. is a leader in
the design and manufacture of Multi-Mix PICO(TM) RF Microwave components,
assemblies and micro-multifunction modules (MMFM), serving the wireless
telecommunications industry worldwide with enabling technologies for space,
defense and commercial applications. Merrimac is focused on providing Total
Integrated Packaging Solutions(R) with Multi-Mix(R) Microtechnology, a leading
edge competency providing value to our customers through miniaturization and
integration. The Multi-Mix(R) process for microwave, multilayer integrated
MMFM circuitry is a patented method developed by Merrimac Industries based on
fluoropolymer composite substrates. The fusion bonding of multilayer
structures provides a homogeneous dielectric medium that can integrate both
active and passive functional elements for superior electrical performance at
microwave frequencies. The bonded layers may incorporate embedded
semiconductor devices, MMICs, etched resistors, passive circuit elements and
plated-through via holes to form a three-dimensional subsystem enclosure that
requires no further packaging. Merrimac Industries facilities are registered
under ISO 9000, an internationally developed set of quality criteria for
manufacturing operations.
Merrimac Industries, Inc. and its subsidiary Filtran Microcircuits Inc.,
are located in West Caldwell, NJ, San Jose, Costa Rica, and Ottawa, Ontario,
Canada, and have approximately 240 co-workers dedicated to the design and
manufacture of signal processing components, gold plating of high-frequency
microstrip, bonded stripline and thick metal-backed Teflon (PTFE) micro-
circuitry and subsystems providing Total Integrated Packaging Solutions(R) for
wireless applications. Merrimac (MRM) is listed on the American Stock
Exchange. Multi-Mix(R), Multi-Mix PICO(TM), MMFM(R) and Total Integrated
Packaging Solutions(R) are trademarks of Merrimac Industries, Inc. For more
information about Merrimac Industries, Inc. and Filtran Microcircuits Inc.,
please visit http://www.merrimacind.com and http://www.filtranmicro.com .
This press release contains statements relating to future results of the
Company (including certain projections and business trends) that are "forward-
looking statements" as defined in the Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from those projected as a result
of certain risks and uncertainties. These risks and uncertainties include,
but are not limited to: risks associated with demand for and market acceptance
of existing and newly developed products as to which the Company has made
significant investments, particularly its Multi-Mix(R) products; general
economic and industry conditions; slower than anticipated penetration into the
satellite communications, defense and wireless markets; the risk that the
benefits expected from the acquisition of Filtran Microcircuits Inc. are not
realized; the ability to protect proprietary information and technology;
competitive products and pricing pressures; risks relating to governmental
regulatory actions in communications and defense programs; and inventory
risks due to technological innovation and product obsolescence, as well as
other risks and uncertainties, including but not limited to those detailed
from time to time in the Company's Securities and Exchange Commission filings.
These forward-looking statements are made only as of the date hereof, and the
Company undertakes no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events or
otherwise.
Contact: Mason N. Carter, Chairman & CEO
973-575-1300, ext. 1202
mnc@merrimacind.com
SOURCE Merrimac Industries, Inc.
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Related links:
http://www.merrimacind.com
http://www.filtranmicro.com
Company News On-Call:
http://www.prnewswire.com/comp/567525.html
CONTACT:
Mason N. Carter, Chairman & CEO of Merrimac
Industries, Inc., +1-973-575-1300, ext. 1202, or
mnc@merrimacind.com
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