News Release
Merrimac Receives Production Order for Wireless Basestation Transceiver Circuitry
WEST CALDWELL, N.J., February 14, 2002: Merrimac Industries, Inc. (AMEX: MRM) today announced that its wholly-owned subsidiary Filtran Microcircuits Inc. has received a production order from a leading supplier of telecommunications equipment to provide customized circuitry that will be deployed in wireless basestation transceivers. The potential revenue to be derived from this order is approximately $500,000 and anticipated future follow-on orders for the next twelve months are currently estimated at approximately $1.7 million.
Chairman and CEO Mason N. Carter commented, "Filtran presented alternative manufacturing processes that will yield a cost effective, high-performance solution for demanding microcircuitry specifications. Our ability to offer creative alternatives in a competitive environment clearly demonstrates Filtran's true technical competency and experience with solving difficult design requirements.
Carter continued, "Filtran has the ability to provide high-frequency microcircuitry that will enable its customer to meet the marketplace demand for a higher frequency product than had been previously manufactured. These high-frequency products will allow our customer to exploit the renewed demand for microwave transceivers for European and South American wireless infrastructure markets. By working closely with our customer the Filtran technological capabilities difference became evident."
About Merrimac
Merrimac Industries, Inc. is a leader in the design and manufacture of Multi-Mix PICO RF Microwave components, assemblies and micro-multifunction modules (MMFM), serving the wireless telecommunications industry worldwide with enabling technologies for commercial applications. Merrimac is focused on providing Total Integrated Packaging SolutionsTM with Multi-Mix® Microtechnology, a leading edge competency providing value to our customers through miniaturization and integration. The Multi-Mix 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 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., with locations in West Caldwell, NJ, San Jose, Costa Rica and Ottawa, Ontario, Canada, have approximately 250 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 for wireless applications. Merrimac (MRM) is listed on the American Stock Exchange. Multi-Mix, Multi-Mix PICO, MMFM and Total Integrated Packaging Solutions are trademarks of Merrimac Industries, Inc. For more information about Merrimac Industries, Inc. and Filtran Microcircuits Inc., please visit www.merrimacind.com and 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: 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; the risk that the Company will not be able to continue to raise sufficient capital to expand its operations as currently contemplated by its business strategy; risks relating to governmental regulatory actions in communications and defense programs; risks associated with demand for and market acceptance of existing and newly developed products; 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.
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Contact:
Mason N. Carter, Chairman & CEO
973.575.1300, ext. 1202
E-mail: mnc@merrimacind.com
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