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Herley Industries, Inc. is Awarded $1.65M Contract

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 inWhippany, 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 inLancaster, 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.

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Herley Industries, Inc. is Awarded $1.65M Contract