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Herley Reports Fourth Quarter and Year-End Results
Date:10/15/2009

(1,000) (13,500) Employment settlement payments (4,476) (1,336) Advance payments on contracts 6,618 957 Other, net 229 438 --- --- Total adjustments 56,056 (270) ------ ---- Net cash provided by (used in) operating activities 14,880 (10,616) ------ ------- Cash flows from investing activities: Acquisition of business, net of cash acquired (30,010) - Proceeds from sale of discontinued subsidiary 15,000 - Capital expenditures (5,432) (4,637) Other 27 3 -- - Net cash used in investing activities (20,415) (4,634) ------- ------ Cash flows from financing activities: Borrowings under bank line of credit 35,600 20,400 Borrowings - term loan 10,000 - Proceeds from exercise of stock options 538 321 Excess tax benefit from exercises of stock options 212 91 Payments of long-term debt (2,182) (1,357) Payments under bank line of credit (38,100) (17,900) Purchase of treasury stock - (7,139) --- ------
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SOURCE Herley Industries, Inc.
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