Herley Industries, Inc. Reports Third Quarte... (gn exchange transaction losses ...)

Herley Industries, Inc. Reports Third Quarter Earnings

Date:6/11/2009

gn exchange transaction losses - 48 Inventory valuation reserve charges 1,164 1,287 Reduction in accrual for contract losses - (826) Warranty reserve charges 1,130 848 Deferred taxes 16 (4,999) Changes in operating assets and liabilities Cash of discontinued subsidiary (712) - Trade accounts receivable (2,285) 4,416 Income taxes receivable 2,056 (1,237) Costs incurred and income recognized in excess of billings on uncompleted contracts and claims 3,477 (5,385) Other receivables 1,020 (1,021) Inventories (6,167) (9,876) Other current assets (965) (477) Accounts payable and accrued expenses (6,094) 10,079 Billings in excess of costs incurred and income recognized on uncompleted contracts 175 428 Income taxes payable 18 (2,543) Accrual for contract losses 1,420 - Employment settlement payments (964) (1,034) Litigation settlement payments (1,000) (4,000) Advance payments on contracts 9,361 (52) Other, net (224) (531) ----------- ----------- Total adjustments 8,899 7,238

SOURCE Herley Industries, Inc.
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Herley Industries, Inc. Reports Third Quarte...(gn exchange transaction losses ...),Health