Herley Industries, Inc. Subsidiary, Micro Systems, Inc. Receives $1.7M in Contracts to Supply Avionics
LANCASTER, Pa., April 19 Herley Industries, Inc. (Nasdaq: HRLY) today announced that its Micro Systems, Inc. subsidiary in Fort Walton Beach, Florida, has received contracts totaling $1,734,913 from a major defense prime contractor to supply C-Band tracking transponders for two missile platforms.
Wayne Armstrong, Micro Systems' President commented, "These awards represent the continuation of a long term business relationship on two major defense programs. We treasure our 'key supplier' status on these important programs and continuously strive to maintain that status by delivering quality products, on time, at competitive prices."
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.
For information at Herley contact: www.Herley.com Peg Guzzetti Tel: (717) 397-2777 Investor Relations
SOURCE Herley Industries, Inc.
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