Micropac Industries Inc (MPAD)

Micropac Industries, Inc. was incorporated under the name of 'Micropac Industries, Inc.' in the state of Delaware on March 3, 1969. The company manufactures and distributes various types of hybrid microelectronic circuits, solid state relays, power operational amplifiers, and optoelectronic components and assemblies. The Company's products are used as components in a broad range of military, space and industrial systems, including aircraft instrumentation and navigation systems, power supplies, electronic controls, computers, medical devices, and high-temperature (200o C) products. The Company's products are either custom (being application-specific circuits designed and manufactured to meet the particular requirements of a single customer) or standard proprietary components. Custom-designed components accounted for approximately 34% of the Company's sales for the fiscal year ended November 30, 2011, and were 30% for fiscal 2010.Standard components accounted for approximately 66% of the Company's sales for the fiscal year ended November 30, 2011, and were 70% for fiscal 2010. The Company provides microelectronic and optoelectronic components and assemblies along with contract electronic manufacturing services and offers a wide range of products sold to the industrial, medical, military, aerospace and space markets. The microcircuits product line, including custom microcircuits, solid state relays, power operational amplifiers, and regulators accounted for 38% of the Company's business in 2011, and the optoelectronics product line accounted for 62% of the Company's business in 2011, compared to 51% and 49% in 2010, respectively. he Company's core technology is the packaging and interconnects of miniature electronic components, utilizing thick film and thin film substrates, forming microelectronics circuits. Other technologies include light emitting and light sensitive materials and products, including light emitting diodes and silicon phototransistors used in the Company's optoelectronic components, and assemblies. The company competes with Teledyne Industries, Inc., MS Kennedy, Honeywell, Avago, and International Rectifier. The Company is subject to governmental regulations pertaining to the use, storage, handling and disposal of hazardous substances used in connection with its manufacturing activities.