SOURCE: Herley Industries, Inc.

August 01, 2005 15:34 ET

Herley Receives Contract Awards Totaling $4.3 Million

LANCASTER, PA -- (MARKET WIRE) -- August 1, 2005 -- Herley Industries, Inc. (NASDAQ: HRLY) announced today that contract awards have been received from domestic and international customers.

Herley received a $3.2 million contract award from a leading U.S. defense contractor to manufacture sophisticated microwave hardware for a major weapons program. A second contract for $1.1 million was received from an international defense company with electronic warfare expertise. Herley has received multiple contracts for hardware from this customer, and additional contracts are expected in the future.

John M. Kelley, Herley's President, stated, "Our booking activity is increasing in intensity as we near our fiscal year end. The combination of funded backlog and options expected to be exercised during early fiscal 2006 should continue the momentum of profitable revenue growth at Herley."

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 nine locations and approximately over a thousand employees worldwide. Additional information about the company can be found on the Internet at www.herley.com

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. 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.

Contact Information

  • For information at Herley contact:
    Peg Guzzetti
    Investor Relations
    Tel: (717) 735-8117
    www.herley.com