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

cal 2008. Fiscal 2009 results were significantly impacted by the fourth quarter charges described above. The loss from continuing operations for fiscal 2009 was $40.7 million, or $3.00 per diluted share, compared to a loss from continuing operations of $10.7 million, or $.78 per diluted share, last year. Loss from discontinued operations that resulted from the sale of the ICI business in November 2008 was $.5 million, or $.03 per diluted share, in fiscal 2009 compared to income of $.3 million, or $.02 per diluted share, last year. Net loss for fiscal 2009 was $41.2 million, or $3.03 per diluted share, compared to a net loss of $10.3 million, or $.76 per diluted share, last year.

Balance Sheet and Capital Expenditures

At August 2, 2009, the Company's total cash and cash equivalents balance was $14.8 million and its long-term debt, exclusive of settlement commitments, was $12.2 million. Capital expenditures were $.9 million for the fourth quarter of fiscal 2009 and were $5.4 million for fiscal 2009.

Richard Poirier, Chief Executive Officer and President, will host a conference call on October 16, 2009 at 9:00 a.m. Eastern Time to discuss financial results for the Fourth Quarter and Fiscal Year ended August 2, 2009. To join the conference call, dial 1 (888) 425-4188 and reference Conference ID #33627285.

A taped replay of the call will be available on October 16, 2009 approximately one hour after the conclusion of the call through October 23, 2009 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 reference Conference ID #33627285.

In addition, the conference call will be broadcast live over the internet and can be accessed through the following URL: http://www.videonewswire.com/event.asp?id=62624. To listen to the live call on the internet, go to the we
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SOURCE Herley Industries, Inc.
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