Monday, June 11, 2012

Micronetics Inc (NASDAQ: NOIZ) Merger with Mercury Computer Systems Inc (NASDAQ: MRCY)

On an overall dismal day for the markets Monday, as all three major US indexes fell over 1%, jumping a whopping 94.79% was Micronetics Inc. (NASDAQ: NOIZ). Headquartered at Hudson, NH, Micronetics "designs and manufactures high quality, reliable, microwave/RF components, multi-function subassemblies and highly integrated subsystems," according to its website. Over the weekend, it was acquired by Mercury Computer Systems, Inc (NASDAQ: MRCY) via a merger for $14.80 per share. Shares of Micronetics, which closed 7.49 last Friday, jumped to close at 14.59 on Monday.

Financials reveal that in the 12-month period ending in Q1-2012, the revenue and profit of Micronetics were at $45.97 and $3.41 million, up from $35.30 million and $1.52 million, respectively, the previous 12-month period. Shares of Micronetics have not been as high as the acquisition price of 14.80 since July of 2006. According to its website, Mercury, headquartered at Chelmsford, MA with market cap of over $360 million, is the "leading supplier of very high-performance digital image, signal and sensor processing solutions for prime contractor customers in the defense industry, as well as the Intelligence Community."

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