'While we are not satisfied with the results for the fourth quarter and fiscal year, it is important to note that despite the effects of the suspensions and the costs associated with implementation of the Administrative Agreement, the company was able to report a profit for its fourth quarter and its fiscal year.
'Hopefully, we are past the rough times, and can now fully implement our growth strategies and focus our attention to the bottom line. Our new management team, headed up by Jeff Markel is taking hold, and we expect to see the results of the new operating plans reflected as higher earnings as we go through fiscal 2008. We begin the new fiscal year with a strong backlog of $137 million, up from $125 million at the end of last year, and bookings have been strong in the first quarter. As we look into the future, we continue to work toward our goal of increased international business and are targeting new long-term programs both domestically and internationally."
A Conference Call has been scheduled for 9:00 a.m. Eastern Time on Friday, October 12, 2007. Interested parties may join the conference by dialing: 888-425-4188 referencing Conference ID# 19657632.
Replay of the conference call is scheduled to begin on October 12, 2007 at 10:00 a.m. and end on October 19, 2007 at 11:59 p.m. Eastern Time. To listen to the replay dial: 1 (800) 642 1687 (U.S.) or 1 (706) 645-9291 (International), and Conference ID# 19657632.
This conference call will be broadcast live over the Internet and can be accessed by interested parties through URL:
To listen to the live call, please go to the Web site
|SOURCE Herley Industries, Inc.|
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