Summary of MERRIMAC INDUSTRIES INC

Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

(a)

On April 2, 2009, the Audit Committee of Merrimac Industries, Inc. determined that the Company's consolidated financial statements contained in the Company's annual report on form 10-K for the year ended December 29, 2007 (affecting all four quarters of 2007) and its quarterly reports on Form 10-Q for the periods ended March 29, June 28, and September 27, 2008 should no longer be relied upon due to the misstatements described below.

The misstatement related to fiscal year 2007 was due to errors in the cost accounting process that resulted in the improper closing of a portion of the Company's manufacturing jobs. This caused an overstatement of the Company's work in process inventory and an understatement of cost of goods sold. The misstatements related to the quarters during fiscal year 2008 were primarily due to control deficiencies following the company wide conversion to an enterprise resource planning (ERP) software system and as a result of changes in personnel in the Company's financial operations department. Although the aggregate results for the combined years of 2007 and 2008 remain the same, the 2007 annual results will be negatively impacted by additional costs of approximately $400,000 as a result of the reallocation of expenses to the proper periods.

The Company's management, with the Audit Committee has discussed the matters described in this Item 4.02(a) with the Company's independent registered public accounting firm, J.H. Cohn LLP. The Company's management has also contacted the Securities and Exchange Commission and requested that the restatements for all four periods be included in the Form 10-K for the year ended January 3, 2009. The Company anticipates filing the Form 10-K on or before April 20, 2009.