Herley is Awarded a $1.6 Million Contract for Integrated Microwave Assemblies for the U. S. Navy

LANCASTER, Pa., March 25 /PRNewswire-FirstCall/ -- Herley Industries, Inc. (Nasdaq: HRLY) announced today that its Herley New England division in Woburn, Massachusetts, has been awarded a contract valued at approximately $1.6 million from a major U.S. Prime contractor to supply a number of multi-function integrated microwave assemblies (IMAs) for a U.S. Navy Electronic Attack Aircraft.

Richard F. Poirier, CEO and President, said, "This award is the second significant award this month to Herley New England from this customer for various IMAs for use on a U.S. Navy Aircraft.  On March 9, we announced an award for $11.5 million for the same customer and program, which brought the division's backlog to record levels.  Herley has been a trusted supplier of microwave products for a number of years, and we look forward to supporting our customer on this program well into the future."

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

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 current 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 release and in our public filings with the Securities and Exchange Commission.

SOURCE Herley Industries, Inc.

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