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... Merrimac Reports Fourth Quarter and Fiscal Year 2005 Results Merrimac Reports Fourth Quarter and Fiscal Year 2005 Results WEST CALDWELL, N.J., March 31 /PRNewswire-FirstCall/ - Merrimac Industries, Inc.

(Amex: MRM), a leader in the design and manufacture of RF Microwave components, subsystem assemblies and micro-multifunction modules (MMFM(R)), today announced results for the fourth quarter and fiscal year 2005.

Sales for the fourth quarter of 2005 were $7,002,000, a $784,000 or 10.1 percent decrease compared to fourth quarter 2004 sales of $7,786,000.

The reduction in sales was due to lower orders from earlier in 2005 due to delays in expected satellite and defense programs.

Gross profit for the fourth quarter was $2,662,000 or 38.0 percent of sales as compared to fourth quarter 2004 gross profit of $3,091,000 or 39.7 percent of sales.

Operating loss was $(147,000) for the fourth quarter of 2005, compared to operating income of $202,000 for the fourth quarter of 2004.

Operating results for the fourth quarter of 2005 were lower due to a reduction of gross profit resulting from decreased sales, offset by slightly lower operating expenses.

For the fourth quarter of 2004, operating income was reduced by $225,000 of employee incentive compensation and profit-sharing expense, which did not recur in 2005.

Net income for the fourth quarter of 2005 was $117,000 compared to net income of $209,000 for the fourth quarter of 2004.

Net income ...

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