Merix Announces New China-Based Credit Facility BEAVERTON, OR, June 29, 2009 - Merix Corporation (NASDAQ: MERX), a leading provider of high-reliability printed circuit boards, today announced a credit agreement with Industrial and Commercial Bank of China (ICBC) that provides for up to 50 million RMB (U.S. dollar equivalent of approximately $7.3 million) of borrowing under a credit facility with the Company’s Huiyang, China, based factory. The credit facility is secured by the building and land-use lease rights at Merix’ recently expanded Huiyang manufacturing facility. Initial availability is 36 million RMB (approximately US$5.3 million). The balance of the borrowings under the credit facility is anticipated to be fully available within 90 days upon perfection of the security interest in the building. Amounts drawn against the credit facility are payable one year after the date of the first advance and can be used to fund working capital and other general corporate purposes for Merix’ operations in Asia. BEAVERTON, OR, June 29, 2009 - Merix Corporation (NASDAQ: MERX), a leading provider of high-reliability printed circuit boards, today announced a credit agreement with Industrial and Commercial Bank of China (ICBC) that provides for up to 50 million RMB (U.S. dollar equivalent of approximately $7.3 million) of borrowing under a credit facility with the Company’s Huiyang, China, based factory. The credit facility is secured by the building and land-use lease rights at Merix’ recently expanded Huiyang manufacturing facility. Initial availability is 36 million RMB (approximately US$5.3 million). The balance of the borrowings under the credit facility is anticipated to be fully available within 90 days upon perfection of the security interest in the building. Amounts drawn against the credit facility are payable one year after the date of the first advance and can be used to fund working capital and other general corporate purposes for Merix’ operations in Asia.
"As Merix continues to expand its global footprint we are seeking to develop and grow relationships in Asia. We are pleased with and appreciate the opportunity to establish a banking relationship with Industrial and Commercial Bank of China, a bank with a significant local presence throughout China," said Michael D. Burger, President and Chief Executive Officer. "The new agreement provides the Company with an additional low cost source of capital along with our existing Bank of America bank credit facility. The combination of these credit agreements gives Merix increased liquidity, which provides further flexibility to optimize the capital structure and support our growth in both Asia and the United States. The combined bank credit lines today provide the Company with approximately $50.8 million of available borrowing. Total outstanding borrowings under the bank credit facilities remains at $8 million, which is unchanged from the amount we reported for our last fiscal quarter that ended on February 28, 2009."
About Merix
Merix is a leading manufacturer of technologically advanced multilayer rigid printed circuit boards for use in sophisticated electronic equipment. Merix provides high-performance materials, quick-turn prototype, pre-production and volume production services to its customers. Principal markets served by Merix include communications and networking, computing and peripherals, test, industrial and medical, defense and aerospace, and automotive end markets in the electronics industry. Additional corporate information is available on the internet at www.merix.com. Merix Strengthens Defense & Aerospace Business: Announces Multi-Million Dollar Order BEAVERTON, OR-- (Marketwire - June 16, 2009) - Merix Corporation (NASDAQ: MERX), a leading provider of high-reliability printed circuit boards (PCBs), today announced a major, multi-million dollar order from a leading global avionics and communications leader. The order is a direct result of Merix's focus on the defense and aerospace sector where the company has broadened its product offering and grown its market share in the past 14 months. BEAVERTON, OR-- (Marketwire - June 16, 2009) - Merix Corporation (NASDAQ: MERX), a leading provider of high-reliability printed circuit boards (PCBs), today announced a major, multi-million dollar order from a leading global avionics and communications leader. The order is a direct result of Merix's focus on the defense and aerospace sector where the company has broadened its product offering and grown its market share in the past 14 months.
Since charting a new growth strategy in 2007, Merix has made it a priority to grow its presence in the defense and aerospace sector and is now certified to MIL-PRF-31032 in all of its North American facilities. Merix's technologically advanced PCBs will be used in the design and development of sophisticated, mission-critical solutions for both military and defense use. These include flight deck avionics, cabin electronics, information management, military communications and simulation and training applications.
 view entire report Merix Strengthens Defense and Aerospace Capability BEAVERTON, OR, May 28, 2009 - U.S. based printed circuit board (PCB) manufacturer Merix Corporation (NASDAQ: MERX) today announced several key milestones that underscore the success of the company's defense and aerospace growth strategy. The management team has taken aggressive measures to leverage Merix's industry leading quality, reliability, technology and manufacturing expertise to capitalize on new growth opportunities in the defense and aerospace sector. Today, Merix has grown market share and is partnered with multiple leading defense and aerospace customers, providing advanced PCB solutions for critical military and civilian use. Applications include flight deck avionics, cabin electronics, information management, GPS, radio and tactical military communications, tactical smart munitions, radar systems, satellite communications, and simulation systems. BEAVERTON, OR, May 28, 2009 - U.S. based printed circuit board (PCB) manufacturer Merix Corporation (NASDAQ: MERX) today announced several key milestones that underscore the success of the company's defense and aerospace growth strategy. The management team has taken aggressive measures to leverage Merix's industry leading quality, reliability, technology and manufacturing expertise to capitalize on new growth opportunities in the defense and aerospace sector. Today, Merix has grown market share and is partnered with multiple leading defense and aerospace customers, providing advanced PCB solutions for critical military and civilian use. Applications include flight deck avionics, cabin electronics, information management, GPS, radio and tactical military communications, tactical smart munitions, radar systems, satellite communications, and simulation systems.
High Reliability PCB Manufacturing for the Defense and Aerospace Industry The defense and aerospace industry's demand for superior quality is a natural fit for Merix, long a leader in the manufacture of high reliability and high technology PCB products. Additionally, significant investments in engineering support, product development and the attainment of critical military certifications have helped position Merix as a key supplier. Complementing Merix's technology and manufacturing leadership is 24 hours a day and seven days a week customer service, as well as exceptional field applications engineering support. Merix also recently announced that each of its North American factories is qualified to MIL-PRF-31032, an important military certification that establishes strict standards and recognizes Merix's advanced quality management and production systems.
view entire report Merix Announces Increased Credit Availability BEAVERTON, OR, May 26, 2009 - Merix Corporation (NASDAQ: MERX), a leading provider of high-reliability printed circuit boards, today announced an amendment that increases the availability under its bank line of credit with Bank of America, N.A. The amendment provides for an expansion of accounts receivable eligible to support the borrowing base and also adjusts the credit agreement pricing grid. BEAVERTON, OR, May 26, 2009 - Merix Corporation (NASDAQ: MERX), a leading provider of high-reliability printed circuit boards, today announced an amendment that increases the availability under its bank line of credit with Bank of America, N.A. The amendment provides for an expansion of accounts receivable eligible to support the borrowing base and also adjusts the credit agreement pricing grid. "We are pleased with Bank of America’s continuing partnership with our Company," said Michael D. Burger, President and Chief Executive Officer of Merix Corporation. "Obtaining a favorable amendment is remarkable in today’s credit environment and we believe it reflects Bank of America’s continuing support for our business and corporate strategy. Further, the estimated impact of the amendment increases our eligible borrowing base today by approximately $7 million to $8 million and also increases our average interest rate by one percentage point. Total borrowings remain unchanged from the end of our last fiscal quarter, February 28, 2009, with $8 million outstanding. Approximately $38 million is unutilized under the bank credit facility."
view entire report Merix Corporation Announces Third Quarter Results
BEAVERTON, OR, April 8, 2009 - Merix Corporation (NASDAQ:MERX) today announced consolidated financial results for the third quarter of fiscal 2009 ended February 28, 2009.
The Company reported a net loss of $32.7 million or $1.54 per diluted share on revenue of $60.7 million for the third quarter of fiscal 2009, which compares to a net loss of $6.1 million or $0.29 per diluted share on revenue of $76.9 million in the second quarter of fiscal 2009.
Included in the fiscal 2009 third quarter loss was a non-cash impairment charge of $20.5 million or $0.97 per diluted share for goodwill recorded on the 2005 acquisition of our Asian business and $1.8 million of $0.09 per diluted share of severance and other restructuring charges associated with our recent cost reduction activities.
BEAVERTON, OR, April 8, 2009 - Merix Corporation (NASDAQ:MERX) today announced consolidated financial results for the third quarter of fiscal 2009 ended February 28, 2009.
The Company reported a net loss of $32.7 million or $1.54 per diluted share on revenue of $60.7 million for the third quarter of fiscal 2009, which compares to a net loss of $6.1 million or $0.29 per diluted share on revenue of $76.9 million in the second quarter of fiscal 2009.
Included in the fiscal 2009 third quarter loss was a non-cash impairment charge of $20.5 million or $0.97 per diluted share for goodwill recorded on the 2005 acquisition of our Asian business and $1.8 million of $0.09 per diluted share of severance and other restructuring charges associated with our recent cost reduction activities.
During the third quarter of fiscal 2009 the Company generated $10.3 million of cash from operations and ended the quarter with $19.1 million of cash and cash equivalents, representing a $7.6 million increase from the second quarter of the fiscal year.
Commenting on the recent third quarter performance, Michael D. Burger, President and Chief Executive Officer, said, "Like most businesses today, the printed circuit board market has been severely affected by the global recession. Despite the decline in revenues, we were able to generate good third quarter cash flows through improvements in days sales outstanding and inventory turns as well as the collection of Chinese value added tax refunds. Further, we continued to reduce our costs through selective actions, many of which were made near the end of the third quarter and are anticipated to have a greater benefit in the fourth fiscal quarter, which ends in May."
view entire report Merix Corporation to Announce Third Quarter Results on Wednesday, April 8, 2009 BEAVERTON, OREGON, March 26, 2009 – Merix Corporation (NASDAQ: MERX), a leading provider of high reliability printed circuit boards, announced today that it will release results for the third quarter of fiscal 2009 on Wednesday, April 8, 2009 after the market close. Following the release, Merix will host a conference call at 2:00 p.m. PT with a simultaneous webcast to discuss the company’s quarterly results, the industry and the outlook for the fourth quarter of fiscal 2009. To listen to the webcast, log on to the Merix website at www.merix.com.
For those who cannot listen to the live broadcast, an online replay of the webcast will be available beginning at 5:00 p.m. PT, April 8, 2009 and a telephone replay will be available from 4:00 p.m. PT on April 8th until 11:59 p.m. PT on Wednesday, April 15, 2009 by calling (320) 365-3844; access code 993471.
BEAVERTON, OREGON, March 26, 2009 – Merix Corporation (NASDAQ: MERX), a leading provider of high reliability printed circuit boards, announced today that it will release results for the third quarter of fiscal 2009 on Wednesday, April 8, 2009 after the market close. Following the release, Merix will host a conference call at 2:00 p.m. PT with a simultaneous webcast to discuss the company’s quarterly results, the industry and the outlook for the fourth quarter of fiscal 2009. To listen to the webcast, log on to the Merix website at www.merix.com.
For those who cannot listen to the live broadcast, an online replay of the webcast will be available beginning at 5:00 p.m. PT, April 8, 2009 and a telephone replay will be available from 4:00 p.m. PT on April 8th until 11:59 p.m. PT on Wednesday, April 15, 2009 by calling (320) 365-3844; access code 993471.
About Merix
Merix is a leading manufacturer of technologically advanced multilayer rigid printed circuit boards for use in sophisticated electronic equipment. Merix provides high-performance materials, quick-turn prototype, pre-production and volume production services to its customers. Principal markets served by Merix include communications and networking, computing and peripherals, test, industrial and medical, defense and aerospace and automotive end markets in the electronics industry. Additional corporate information is available on the internet at www.merix.com. Merix Attains Key Military Certification at Largest North American Facility BEAVERTON, OR, February 3, 2009 - Merix Corporation (NASDAQ:MERX), a leading provider of high-reliability printed circuit boards, today announced the receipt of MIL-PRF-31032 certification for its largest North America factory located in Forest Grove, Oregon.
This certification establishes strict performance and verification requirements and was awarded in recognition of Merix' advanced quality management and production systems that meet or exceed the requirements of the rigid MIL-PRF-31032 standard. BEAVERTON, OR, February 3, 2009 - Merix Corporation (NASDAQ: MERX), a leading provider of high-reliability printed circuit boards, today announced the receipt of MIL-PRF-31032 certification for its largest North America factory located in Forest Grove, Oregon. This certification establishes strict performance and verification requirements and was awarded in recognition of Merix' advanced quality management and production systems that meet or exceed the requirements of the rigid MIL-PRF-31032 standard.
"With this award, Merix is now MIL-PRF-31032 certified in all of our North American facilities," said Michael D. Burger, President and CEO of Merix Corporation. "The receipt of this certification means that Merix will be able to bring our industry-leading quality and reliability to a broader set of defense and aerospace customers, and we look forward to the continuation of our strong growth in this market."
view entire release Merix Corporation Announces Second Quarter Results BEAVERTON, OR, January 7, 2009 - Merix Corporation (NASDAQ:MERX) today announced consolidated financial results for the second quarter of fiscal 2009 ended November 29, 2008.
The Company reported a net loss of $6.1 million or $0.29 per diluted share on revenue of $76.9 million for the second quarter of fiscal 2009, which compares to a net loss of $5.0 million or $0.24 per diluted share on revenue of $97.4 million for the second quarter of fiscal 2008. Included in the second quarter loss is $1.1 million of severance and a write down of assets held for sale associated with our cost reduction activities. In addition, the company generated $4.0 million of cash from operations during the second quarter. BEAVERTON, OR, January 7, 2009 - Merix Corporation (NASDAQ:MERX) today announced consolidated financial results for the second quarter of fiscal 2009 ended November 29, 2008.
The Company reported a net loss of $6.1 million or $0.29 per diluted share on revenue of $76.9 million for the second quarter of fiscal 2009, which compares to a net loss of $5.0 million or $0.24 per diluted share on revenue of $97.4 million for the second quarter of fiscal 2008. Included in the second quarter loss is $1.1 million of severance and a write down of assets held for sale associated with our cost reduction activities. In addition, the company generated $4.0 million of cash from operations during the second quarter.
Commenting on the recent second quarter performance, Michael D. Burger, President and Chief Executive Officer said, “The global demand for printed circuit boards in the commercial sectors of our market has been adversely impacted by the recent financial crisis that has affected many areas of the global economy. The restructuring activities that we have taken over the last 18 months have enabled us to substantially offset the decline in gross margin despite the 21% reduction in second quarter revenue when compared to last year.”
Looking ahead Mr. Burger commented, “The global economy continues to remain challenging and difficult to predict. However, with our major capital investments behind us our focus will be on the continued aggressive management of our business enabling us to service our customers, while also making the necessary and appropriate decisions to remain healthy financially.”
view entire report Investor Webcasts Wednesday, April 8, 2009 at 2:00 p.m. PT
Merix Corporation to Announce Third Quarter Earnings April 8th
On Wednesday, April 8, 2009 at 2:00 p.m. PT, Merix will host a conference call with a simultaneous webcast to discuss the Company’s quarterly results, the industry and the outlook for the fourth quarter of fiscal 2009.
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Wednesday, January 7, 2009 at 2:00 p.m. PT
Merix Corporation to Announce Second Quarter Earnings January 7th
On Wednesday, January 7, 2009 at 2:00 p.m. PT, Merix will host a conference call with a simultaneous webcast to discuss the Company’s quarterly results, the industry and the outlook for the third quarter of fiscal 2009.
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Wednesday, October 8, 2008 at 6:30 a.m. PT
Merix Corporation to Announce First Quarter Earnings October 8th
On Wednesday, October 8, 2008 at 6:30 a.m. PT, Merix will host a conference call with a simultaneous webcast to discuss the Company’s quarterly results, the industry and the outlook for the second quarter of fiscal 2009.
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Wednesday, July 30, 2008 at 8:00 a.m. PT
Merix Corporation to Announce Fourth Quarter Earnings July 30th
On Wednesday, July 30, 2008 at 8:00 a.m. PT, Merix will host a conference call with a simultaneous webcast to discuss the Company’s quarterly results, the industry and the outlook for the fourth quarter of fiscal 2008.
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Wednesday, April 9, 2008 at 6:30 a.m. PT
Merix Corporation to Announce Third Quarter Earnings April 9th
On Wednesday, April 9, 2008 at 6:30 a.m. PT, Merix will host a conference call with a simultaneous webcast to discuss the Company’s quarterly results, the industry and the outlook for the fourth quarter of fiscal 2008.
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Monday, February 4, 2008 at 9:10 a.m. PT
Merix Corporation to Present at the Thomas Weisel Technology Conference on February 4th, 2008 Live at The Fairmont Hotel in San Francisco, Michael Burger, President and CEO, and Kelly E. Lang, EVP and Chief Financial Officer
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Wednesday, January 9, 2008 at 7:00 a.m. PT
Merix Corporation to Announce Second Quarter Results on January 9, 2008
On Wednesday, January 9, 2008 at 7:00 a.m. PT, Merix will host a conference call with a simultaneous webcast to discuss the Company’s quarterly results, the industry and the outlook for the third quarter of fiscal 2008.
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Monday, October 8, 2007 at 8:00 a.m. PT
Merix Corporation to Announce First Quarter Results on October 8th, 2007
On Monday, October 8, 2007 at 8:00 a.m. PT, Merix will host a conference call with a simultaneous webcast to discuss the Company’s quarterly results, the industry and the outlook for the second quarter of fiscal 2008.
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Monday, July 16, 2007 at 8:00 a.m. PT
Merix Corporation to Announce Fourth Quarter Results on July 16, 2007
On Monday, July 16, 2007 at 8:00 a.m. PT, Merix will host a conference call with a simultaneous webcast to discuss the Company’s quarterly results, the industry and the outlook for the first quarter of fiscal 2008.
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Monday, April 2, 2007 at 1:30 p.m. PST
Merix Corporation to Announce Financial Results for Third Quarter FY 2007
Merix Corporation to Announce Results for Third Quarter FY2007
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Tuesday, February 6, 2007 at 8:35 a.m. PST
Merix Corporation to Present at the Thomas Weisel Partners Technology Conference
Live at The Fairmont Hotel in San Francisco, Kelly E. Lang, VP and Chief Financial Officer.
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Wednesday, January 10, 2007 at 2:00 pm PST
Merix Corporation Names William C. McCormick as Chairman and Interim CEO
Mark R. Hollinger, Chairman and Chief Executive Officer steps down.
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Wednesday, January 3, 2007; 2:00 PT
Merix Corporation to Announce Financial Results for Second Quarter FY 2007
Merix Corporation to Announce Results for Second Quarter FY2007
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Thursday November 16, 2006; 9:30 am EST
Merix Corporation to Present at the UBS 2006 Global Communications and Technology Conference
Live at the Grand Hyatt New York Hotel in New York. Mark R. Hollinger, Chief Executive Officer
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Tuesday, Oct 10, 2006; 2:00 pm PT
Merix Corporation Announces Financial Results for First Quarter Fiscal Year 2007
Merix Corporation Announces First Quarter Results
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Tuesday, Sep 26, 2006; 8:30 am ET
Merix Corporation Announces Preliminary Financial Results for First Quarter FY 2007
Merix Corporation Annouces Preliminary Results for First Quarter FY2007
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Thursday, Jun 29, 2006; 8:30am ET
Merix Corporation to Announce Fourth Quarter Results
Merix Corporation to Announce Fourth Quarter Results
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Tuesday, Jun 13, 2006; 3:25 pm ET
Merix Corporation will present at the Bear Stearns 2006 Technology Conference
Live at the Grand Hyatt Hotel in New York
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Thursday, Jun 01, 2006; 2:30p ET
Merix Corporation will present at the Cowen & Co. 34th Annual Technology Conference
The conference will be held at The New York Palace Hotel in New York.
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Thursday, Mar 30, 2006; 2:00 pm PT
Merix Corporation To Announce Third Quarter Results
Merix Corporation To Announce Third Quarter Results
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Tuesday, Jan 03, 2006; 2:00 pm PT
Merix Corporation to Announce Second Quarter Results
Merix Corporation to Announce Second Quarter Results
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Friday, Sep 30, 2005; 5:30 am PT
Merix Corporation First Quarter Results Conference Call Re-Scheduled
Merix Corporation First Quarter Results Conference Call Re-Scheduled
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Monday, Jun 20, 2005; 3:00 PM PT
Merix Corporation Announces Preliminary Results for Fourth Quarter FY 2005
Merix Corporation Announces Preliminary Results for Fourth Quarter FY 2005
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Thursday, Apr 14, 2005; 2:30 PT
Merix Corporation Announces Agreement to Acquire Operations of Eastern Pacific Circuits Limited
Merix Corporation Announces Agreement to Acquire Operations of Eastern Pacific Circuits Limited
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Monday, Mar 21, 2005; 2:00 pm PT
Merix Corporation to Announce Third Quarter Results on March 29, 2005
Merix Corporation to Announce Third Quarter Results on March 29, 2005
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Tuesday, Dec 21, 2004; 5:00 pm PT
Merix Corporation to Announce Second Quarter Results
Merix Corporation to Announce Second Quarter Results
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Friday, Dec 10, 2004; 6:00 AM PST
Merix Corporation Acquires Data Circuit Systems, Inc.
Merix will conduct a conference call and live webcast on December 10, 2004 at 6:00 a.m. PT. To access the webcast, log on to www.merix.com. A replay of the webcast will be available beginning at 9:00 a.m. PT on December 10, 2004. A phone replay will be available until approximately midnight on December 20, 2004 by calling (719) 457-0820, access code 383627.
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Wednesday, Sep 22, 2004; 5:00 PT
Merix Corporation to Announce First Quarter Results
Merix Corporation to Announce First Quarter Results
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Wednesday, Jun 30, 2004; 2:00 PT
Merix Corporation To Report Fourth Quarter and Fiscal Year 2004 Results
Merix Corporation To Report Fourth Quarter and Fiscal Year 2004 Results
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Friday, May 14, 2004; 5:30 am PT / 8:30 am ET
Merix Corporation Revises Guidance for Fourth Quarter FY 2004
Merix Corporation Revises Guidance for Fourth Quarter FY 2004
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