Herley Industries, Inc. Reports Third Quarte...(ctors and pricing pressures changes in l...),Health

Date:6/11/2009

ctors and pricing pressures, changes in legal and regulatory requirements, cancellation or deferral of customer orders, technological change or difficulties, difficulties in the timely development of new products, difficulties in manufacturing, commercialization and trade difficulties and current economic conditions, including the potential for significant changes in US defense spending under the new Administration which could affect future funding of programs and allocations within the budget to various programs as well as the factors set forth in this report and in our public filings with the Securities and Exchange Commission.

                     HERLEY INDUSTRIES, INC. AND SUBSIDIARIES
                       CONDENSED CONSOLIDATED BALANCE SHEETS
                         (In thousands, except share data)

                                                   May 3,
                                                    2009            August 3,
                                                (Unaudited)           2008
                                                 ---------         --------

    ASSETS
    Current Assets:
      Cash and cash equivalents                   $14,139           $14,347
      Trade accounts receivable, net               27,427            27,003
      Income Taxes Receivable                           -             2,056
      Costs incurred and income recognized
       in excess of billings on uncompleted
       contracts and claims                        15,013            19,490
      Other receivables                             1,169             1,286
      Inventories, net                             67,261            61,559
      Deferred income taxes                        16,364            11,263
      Other current assets                          2,171             1,276
                                                 --------          --------
        Total Current Assets               
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SOURCE  Herley Industries, Inc.
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