LANCASTER, Pa., Sept. 5 /PRNewswire-FirstCall/ -- Herley Industries, Inc.
(NASDAQ: HRLY) announced today that Herley-CTI, a wholly owned subsidiary of
the Company, has been awarded a contract totaling $1.65 million for Fast
Switching Synthesizers and other associated components for use in simulation
applications from a major defense contractor. Products for this award will be
produced at Herley-CTI in Whippany, NJ and Herley General Microwave in
Jerusalem, Israel.
Myron Levy, Herley's Chairman and CEO, commented, "This is the second
order that Herley-CTI has received from this prime for ultimate delivery to
the U. S. armed forces. We look forward to further awards on the program
over the next few years."
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 eight
manufacturing locations and approximately 935 employees. Additional
information about the company can be found on the Internet at
http://www.herley.com.
For information at Herley contact: Tel: (717) 735-8117
Peg Guzzetti www.herley.com
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. When used in this report,
words such as "anticipated," "believes," "could," "estimates," "expects,"
"may," "plans," "potential" and "intends" and similar expressions, as they
relate to the Company or its management, identify forward-looking statements.
Such forward-looking statements are based on the belief of the Company's
management, as well as assumptions made by and information currently available
to the Company's management. The Company's results could differ materially
based on various factors, including, but not limited to, cancellation or
deferral of customer orders, difficulties in the timely development of new
products, difficulties in manufacturing, increased competitive pressures, and
general economic conditions. The Company undertakes no obligation to update
forward-looking statements as a result of future events or developments.
SOURCE Herley Industries, Inc.
