Herley Announces $1.9 Million Contract Awards for its Microwave Products Group.LANCASTER, Pa.--(BUSINESS WIRE)--Jan. 7, 1999-- General Microwave Division Books Orders from Turkey and U.S. Herley Industries Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HRLY HRLY Hourly HRLY Herley Industries, Inc. (stock symbol) ), a leading producer of flight instrumentation products for space launch and unmanned airborne vehicles, today announced the receipt of new orders. John M. Kelley, Director of Corporate Communications, announced, "Our newly acquired General Microwave division has booked significant orders for Digitally Tuned Oscillators (DTO's) from a Turkish customer, and downconverters used in ECM (1) (Enterprise Change Management) See version control and configuration management. (2) (Error Correcting Mode) A Group 3 fax capability that can test for errors within a row of pixels and request retransmission. systems from a large U. S. Defense Contractor. Follow-on orders, expected later this month from Turkey and Italy will bring these contracts to the $3 million level." GMI GMI Governance Metrics International (New York, New York) GMI Giant Magneto-Impedance GMI Global MSF Interoperability GMI General Motors Institute GMI General Mills, Inc. is a world leader in the design and manufacture of DTO's for both international and U. S. customers. Kelley stated, "we are pleased to recognize so quickly the benefits of the merger of Herley and General Microwave. Backlog for the Microwave Products Group of Herley is now over $20 million." Herley Industries is a technology company providing communication data links and flight instrumentation systems to a global market. The Company designs and manufactures a broad range of products for the commercial space launch industry and the unmanned airborne vehicle (UAV UAV Unmanned Aerial Vehicle UAV Unmanned Air Vehicle UAV Unmanned Aerospace Vehicle UAV Unmanned Airborne Vehicle UAV Uninhabited Air Vehicle UAV Urban Assault Vehicle UAV Unpiloted Aerial Vehicle (less common) ) programs used for training targets, reconnaissance and mapping. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement - Except for the historical information contained herein, this release may contain forward looking statements. Such statements are inherently subject to risks and uncertainties. The Company's results could differ materially based on various factors, including, but not limited to cancellation or deferral of customer orders, difficulties in the timely development of new products, difficulties in manufacturing, increased competitive pressures, and general economic conditions. |
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