Herley Israel Receives a $5 Million Contract for an International Customer

Author
SySAdmin
Posted
March 1, 2010
Views
1298

Page All:

Page 1
Herley Israel Receives a $5 Million Contract for an International Customer

LANCASTER, Pa., March 1 -- Herley Industries, Inc. (NASDAQ:HRLY) announced today that its Israeli subsidiary, Herley Israel, has received a follow-on award valued at approximately $5 million to provide various Integrated Microwave Assemblies (IMAs) for an international customer.

Yonah Adelman, Senior Vice President of Herley and General Manager for the Israeli operations commented, "This award is for an existing customer and program for which we provide hardware used in an airborne application.  Delivery of these IMAs will be over the next two years, and we expect to continue to support our customer on this program over the next five years."

Herley Israel has been dedicated to designing and producing high quality microwave products that utilize and advance the state-of-the-art. This has resulted in the development of a broad range of high-performance microwave control components, sources and integrated assemblies. Herley Israel produces the General Microwave catalog line of control components and sources that have been the industry standard for many years.  For custom requirements such as the IMAs developed for this current order, Herley Israel's broad expertise and experienced staff of microwave experts provide a unique price/performance combination for its customers.

Herley Industries, Inc. is a leader in the design, development and manufacture of microwave technology solutions for the defense, aerospace and medical industries worldwide. Based in Lancaster, PA, Herley has seven manufacturing locations and approximately 1000 employees. Additional information about the company can be found on the Internet at http://www.herley.com

  For information at Herley contact:
  Peg Guzzetti
  Tel:  (717) 397-2777
  Investor Relations

Safe Harbor Statement - Except for the historical information contained herein, this release may contain forward-looking statements. Such statements are inherently subject to risks and uncertainties. Forward-looking statements involve various important assumptions, risks, uncertainties and other factors which could cause our actual results to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this discussion can be identified by words such as "anticipate," "believe," "could," "estimate," "expect," "plan," "intend," "may," "should" or the negative of these terms or similar expressions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance or achievement. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors including but not limited to, competitive factors and pricing pressures, changes in legal and regulatory requirements, cancellation or deferral of customer orders, technological change or difficulties, difficulties in the timely development of new products, difficulties in manufacturing, commercialization and trade difficulties and current economic conditions, including the potential for significant changes in US defense spending under the new Administration which could affect future funding of programs and allocations within the budget to various programs as well as the factors set forth in this report and in our public filings with the Securities and Exchange Commission.

Source: Herley Industries, Inc.
   

CONTACT:  Peg Guzzetti, Investor Relations,  +1-717-397-2777

Web Site:  http://www.herley.com/

Title

Medium Image View Large