Herley Industries, Inc. Subsidiary, Micro Systems, Inc. Receives $16M Contract to Supply Avionics
LANCASTER, Pa., Dec. 29 /PRNewswire-FirstCall/ -- Herley Industries, Inc. (Nasdaq: HRLY) today announced that it has received a multi-year option contract with a potential value of $16M from Composite Engineering, Inc. (CEi) of Sacramento, CA for its avionics suite for the Air Force Sub-scale Aerial Target (AFSAT), also designated as the BQM-167A. Products to be provided under the contract include Command and Control Transponders, Identification Friend or Foe (IFF) Transponders, Power Distribution Assemblies, Electro-Explosive Devices, and Integrated Flight Controllers. The contract encompasses a planned production span of 5 years and is the second such award on the US Air Force target program. Award of the option contract was followed by firm delivery orders for the sixth and seventh years of production that together are valued at approximately $6.4M.
Wayne Armstrong, Micro Systems' President commented, "We are enthusiastic about continuing our relationship with CEi on this important program as we enter the sixth year of production. Our partnership with CEi on this and other key programs has been a mutually beneficial one that we expect to continue for many 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 985 employees. Additional information about the company can be found on the Internet at www.herley.com
For information at Herley contact: Peg Guzzetti Tel: (717) 735-8117 Investor Relations www.herley.com
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SOURCE Herley Industries, Inc.