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

Portion of Employment Settlement Agreement - (net of imputed interest of $254 at May 3, 2009 and $387 at August 3, 2008) 2,243 3,074 Long-term Portion of litigation settlement - (net of imputed interest of $108 at August 3, 2008) - 892 Other Long-term Liabilities 2,126 1,652 Deferred Income Taxes 13,936 8,839 Accrued Income Taxes Payable 516 509 -------- -------- Total Liabilities 80,854 65,983 -------- -------- Commitments and Contingencies Shareholders' Equity: Common stock, $.10 par value; authorized 20,000,000 shares; issued and outstanding 13,559,427 at May 3, 2009, and 13,521,902 at August 3, 2008 1,356 1,352 Additional paid-in capital 102,231 101,403 Retained earnings 92,295 89,058 Accumulated other comprehensive (loss) income (593) 1,622 -------- -------- Total Shareholders' Equity 195,289 193,435 -------- -------- Total Liabilities and Shareholders' Equity $276,143 $259,418 -------- --------


                     HERLEY INDUSTRIES, INC. AND SUBSIDIARIES
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
              
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SOURCE Herley Industries, Inc.
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