LANCASTER, Pa., Feb. 11, 2011 /PRNewswire/ -- Herley Industries,
Inc. (Nasdaq: HRLY) today announced that its Herley New England
Division, in Woburn,
Massachusetts, has received a five-year IDIQ award from a
U.S. major prime contractor to provide diplexers and attenuators
for use in Radar Warning Receivers (RWR) systems.
Radar Warning Receivers are an important part of threat warning
systems which are fitted to a variety of fixed-wing and tilt-wing
military aircraft and helicopters to detect radar signals,
determine the threat levels, and command countermeasures.
John McClay, President of the
Herley New England Division, commented, "Herley New England is pleased to continue to
support our long-term customer for these products. We expect
to receive the first release against this new IDIQ award within the
next few weeks. This award has an estimated potential value
of more than $12 million over the
next five 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 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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Tel: (717) 397-2777
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Peg Guzzetti
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Investor Relations
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www.herley.com
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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,
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 report
and in our public filings with the Securities and Exchange
Commission. We undertake no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE Herley Industries, Inc.