Herley Unit Wins $6.5 Million Navy Contract
October 23, 2009 (FinancialWire) — Herley Industries, Inc. (NASDAQ: HRLY) (Current Market Cap: $165.18 Mil.) said that its Herley-CTI subsidiary has received an award valued at around $6.5 million from a U.S. prime contractor to manufacture an integrated microwave assembly and an oscillator for a U.S. Navy electronic attack aircraft.
company CEO Richard F. Poirier said that Herley-CTI has recently expanded its manufacturing and test facilities in support of these products as this program has transitioned into full rate production.
Lancaster, Pennsylvania-based Herley Industries is engaged in the design, development and manufacture of microwave technology solutions for the defense, aerospace and medical industries worldwide. Herley has seven manufacturing locations and around 1000 employees.
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