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Herley's New Acquisition, Eyal Microwave Industries ("EMI"), Receives $2.2 Million in Contract Awards

LANCASTER, Pa., Oct. 8 /PRNewswire-FirstCall/ -- Herley Industries, Inc. (Nasdaq: HRLY) announced today that Herley General Microwave Israel ("HGMI") through its newly acquired Herley GMI Eyal subsidiary, has received two contracts valued at $2.2M for broadband receivers for electronic intelligence ("ELINT") and other applications from an international customer. Such receivers represent a new product line for Herley Israel and put the company in a leading position in the growing market of intelligence gathering for both manned and unmanned aircraft ("UAVs").

Herley Industries targeted the acquisition of Eyal Microwave Industries, ("EMI") months ago in anticipation of securing market positions in command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) systems with products such as these receivers. Eyal already participates in the ELINT market and supplies high volumes of integrated assemblies to a U.S. customer.

Other Eyal products, such as WIMAX transceivers and solid state replacements for TWT ("traveling-wave tube") technology also propel Herley Industries to a higher level of vertical integration with access to other new defense market segments in mobile communications and RF missile seekers.

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 1,000 employees. Additional information about the company can be found on the Internet at http://www.herley.com.

    For information at Herley contact:
    Peg Guzzetti
    Investor Relations
    Tel:  (717) 735-8117

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.

Tags: ,ARO,CPR,HTS,SEM,NAN,TNM,PA-Herley-aqr-Eyal

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Herley's New Acquisition, Eyal Microwave Industries ("EMI"), Receives $2.2 Million in Contract Awards