Herley Industries, Inc. is Awarded a $5.7M Contract for a U.S. Missile Program
LANCASTER, Pa., July 1 /PRNewswire-FirstCall/ -- Herley Industries, Inc. (Nasdaq: HRLY) announced today that its Lancaster division has been awarded a contract valued at more than $5.7 million from a U.S. prime contractor for the production of flight termination transponders to be used in a U.S. missile program.
Howard M. Eckstein, Division President of Herley's Lancaster division, commented, "Herley Lancaster has produced precision hardware for this customer and program for many years. We have built a strong business relationship with our customer, and we expect to continue to support them for many years to come. Follow-on contracts such as this are a clear indication of continued customer satisfaction."
Richard Poirier, Herley's CEO and President, commented, "Herley Lancaster has been recognized as a valued supplier to the U.S. militaries and prime contractors for over 40 years. I congratulate them on this important award."
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 seven manufacturing locations and approximately 1000 employees. Additional information about the company can be found on the Internet at www.herley.com
For information at Herley contact: |
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Peg Guzzetti |
Tel: (717) 397-2777 |
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Investor Relations |
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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. Forward-looking statements involve various important assumptions, risks, uncertainties and other factors which could cause our actual results to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this discussion can be identified by words such as "anticipate," "believe," "could," "estimate," "expect," "plan," "intend," "may," "should" or the negative of these terms or similar expressions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance or achievement. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors including but not limited to, competitive factors and pricing pressures, changes in legal and regulatory requirements, cancellation or deferral of customer orders, technological change or difficulties, difficulties in the timely development of new products, difficulties in manufacturing, the outcome of pending litigation, commercialization and trade difficulties and current economic conditions, including the potential for significant changes in US defense spending under the new Administration which could affect future funding of programs and allocations within the budget to various programs as well as the factors set forth in this report and in our public filings with the Securities and Exchange Commission.
SOURCE Herley Industries, Inc.
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