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Herley Industries, Inc. Reports Third Quarter Earnings
Date:6/11/2009

Conference Call Scheduled for Friday, June 12, 2009

LANCASTER, Pa., June 11 /PRNewswire-FirstCall/ -- Herley Industries, Inc. (Nasdaq: HRLY) today reported financial results for the third quarter ended May 3, 2009.

Net sales from continuing operations for the thirteen weeks ended May 3, 2009 were approximately $41.8 million, up 25% as compared to $33.5 million in the thirteen weeks ended May 4, 2008.

Income from continuing operations before income taxes for the thirteen weeks ended May 3, 2009 was $3.0 million, versus an operating loss of $11.7 million for the thirteen weeks ended May 4, 2008, an improvement of $14.7 million.

Basic and diluted earnings per common share from continuing operations for the thirteen weeks ended May 3, 2009 were $.18 per common share, as compared to basic and diluted loss per common share from continuing operations of ($.33) in the prior year's third quarter.

Net sales for the thirty-nine weeks ended May 3, 2009 were $117.1 million, up 19% as compared to $98.2 million in the first forty weeks of fiscal 2008.

Income from continuing operations before income taxes for the thirty-nine weeks ended May 3, 2009 was $3.9 million, versus an operating loss of $18.0 million for the forty weeks ended May 4, 2008, an improvement of $21.9 million.

Basic and diluted earnings per common share from continuing operations for the thirty-nine weeks ended May 3, 2009 were $.27 per common share; as compared to basic and diluted loss per common share from continuing operations of ($.67) in the forty weeks ended May 4, 2008.

Myron Levy, Chairman and CEO commented, "I said at the end of our second quarter that Herley was on track for a solid fiscal year. The Company's third quarter results show continuing improveme
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SOURCE Herley Industries, Inc.
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