Herley Subsidiary is Awarded Contract for Fast Switching Synthesizers for Advanced Simulator Applications — Press Release

by: Matthew Potter
February 9, 2010

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Herley Subsidiary is Awarded Contract for Fast Switching Synthesizers for Advanced Simulator Applications

LANCASTER, Pa., Feb. 8 /PRNewswire-FirstCall/ — Herley Industries, Inc. (NASDAQ:HRLY) announced today that its Herley-CTI subsidiary located in Whippany, NJ has received an award worth approximately $1.1M for its flagship DS synthesizer product. The wideband DS direct synthesizer is an ultra low noise, fast switching signal source used widely in the test community for antenna measurements and communications, radar and electronic warfare (EW) system evaluation. The synthesizers ordered under this contract are for use in U.S. Navy radar and electronic warfare environment simulators.

Richard F. Poirier, CEO and President, commented, “This award expands on the recent series of important wins for the fast switching synthesizer product line at Herley-CTI. These wins include synthesizer orders for military and commercial laboratory simulator and test applications, as well as orders for customized units offering packaging and features compatible with radar, EW, and other embedded system applications. This order adds to the already significant number of Herley-CTI synthesizers in use at this U.S. Navy installation. We expect Herley-CTI to continue to supply high reliability, high performance products to this customer for both new systems and system upgrades.”

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, 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.

For information at Herley contact:

Peg Guzzetti Tel: (717) 397-2777
Investor Relations www.herley.com

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