Herley Receives $4.5 M for Microwave Assemblies for F-16 Upgrades

(Lancaster, Pa., November 24, 2008) -- Herley Industries, Inc. (Nasdaq: HRLY) announced today that it has received a new contract award totaling approximately $4.5 million from a U.S. prime contractor.

Herley New England in Woburn, MA, has been awarded the first production contract to provide custom designed complex microwave assemblies developed for ongoing F-16 upgrades.


Myron Levy, Herley's Chairman and CEO, commented, "This award follows a successful development program completed by Herley New England last year. Herley has produced microwave components for the F-16 for many years, and we expect to receive additional awards for this upgrade. The F-16 Fighting Falcon is known as the world's premier multi-mission fighter. It has been selected by more than 20 air forces around the world, and it is anticipated that foreign military sales will continue for many years. As these upgrades are fielded by the U. S. Air Force, foreign governments may follow their lead and upgrade their F-16 fleets. With thousands of F-16's flying worldwide, upgrades and improvements can be a large business area for our Company. For example, we recently announced a second production award for next-generation low noise assemblies (LNAs) from Hill Air Force Base. The LNAs were developed for the F-16 APG-68 Radar System Fire Control Radar at our Herley Lancaster facility. These fully-qualified units are currently in production, and we expect to continue to receive significant follow-on production orders."

Source : Herley Industries Inc.