MERIX, Volume and stock are showing some momentum Message Board

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Technology Stocks : MERIX, Volume and stock are showing some momentum

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To: William B. Kohn who wrote ()	5/11/1996 3:23:00 PM
From: Max Vasquez	of 20

I know the "standard" info (company literature, annual reports, etc) It is run by Deborah Coleman who used to be high up with Apple. She seems to have a lot of credibility in Wall Street. There was an article not long ago in section A of the WSJ talking about MERX and its management. This point alone can help explain MERX's better valuation vs. its apparent peers (see below). If I remember correctly, Paul Wick's Seligman Tech Fund owns a large position on Merix. They (MERX) recently acquired some printed circuit board operations from HP and many expect significant growth to come from this. Merix used to be the "captive" PCB unit for Tektronix, and Tektronix remains their largest costumer (30% of revenue as of May of 1995 - annual report). Other big costumers are Motorola (23%) and Teradyne (a leader on automated testing for semiconductor manufacturing with 10%). Merix does look expensive compared to Hadco (HDCO), Zycon (ZCON) or Continental Circuits (CCIR), but their track record, albeit short (they were spun off from Tektronix a few years ago), seems pretty strong as you state. All the above may help explain the recent run off, although it has corrected a bit over the last week or so. Max

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