LANCASTER, Pa., April 3, 2008 /PRNewswire-FirstCall/ — Herley Industries, Inc. announced today that its wholly owned subsidiary, Innovative Concepts, Inc. in McLean, Virginia, has received a contract award of approximately $13.5 million from the U. S. Army in support of ongoing software development of Improved Data Modem (IDM) software and technology.
Innovative Concepts developed IDM Technology(R) to supply data services in extreme physical environments where highly mobile data communications is required. IDM Technology(R) provides a robust set of data communications solutions deployable in virtually any mode of operation that places a premium on mobility and high reliability under less than optimum conditions. Software upgrades are being developed to meet mandates required for command and control, situational awareness and improved data links.
Myron Levy, the Company’s Chairman and CEO, said, “This award is the result of a long-term business relationship and planning with the U. S. Army to bring innovative technology to the battlefield. We are proud to support the war fighters by providing the best tools available for their missions.” Mr. Levy continued, “My congratulations go out to the management and staff of ICI on this well-deserved award. ICI is recognized as one of the premier providers of wireless data communications products and services.”
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 eight manufacturing locations and approximately 985 employees. Additional information about the company can be found on the Internet at .
Innovative Concepts, a wholly owned subsidiary of Herley Industries, Inc. , specializes in the research, design, development, production and support of wireless data communications products and services for the defense and intelligence communities. Their expertise includes: IDM Technology(R) product line; Mobiquiti (TM) mobile, ubiquitous communications; and expert engineering.
For information at Herley contact: Tel: (717) 735-8117
Peg Guzzetti
Investor Relations
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. When used in this report, words such as “anticipated,”"believes,”"could,”"estimates,”"expects,”"may,”"plans,”"potential” and “intends” and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the belief of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. 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, the effects of the indictment of the Company and general economic conditions. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
Herley Industries, Inc.
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