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Herley Reports Fourth Quarter and Year-End Results

e budget to various programs, as well as the factors set forth in this release and in our public filings with the Securities and Exchange Commission.

    For information at Herley, contact:
    Peg Guzzetti, Investor Relations
    Tel:  (717) 735-8117
                      (In thousands, except per share data)

                                                     Fifty-two   Fifty-three
                              Thirteen weeks ended  weeks ended  weeks ended
                              August 2,  August 3,     August 2,    August 3,
                                   2009       2008         2009         2008
                                   ----       ----         ----         ----

    Net sales                   $42,960    $37,867     $160,089     $136,088
                                -------    -------     --------     --------
    Cost and expenses:
      Cost of products sold      42,990     30,866      132,648      107,848
      Selling and
       expenses                   7,505      6,371       28,981       28,349
      Impairment of goodwill
       and other intangible
       assets                    44,151          -       44,151            -
      Litigation costs              731      3,289        1,786        5,550
      Litigation settlement           -          -            -       15,542
      Employment contract
       settlement costs          10,553          -       10,553            -
                                 ------        ---       ------          ---
                                105,930     40,526      218,119      157,289

    Operating loss              (62,970)    (2,659)     (58,030)     (21,201)
                                -------     ------      -------      -------
    Other (expense) income:
      Interest income                12         65
SOURCE Herley Industries, Inc.
Copyright©2009 PR Newswire.
All rights reserved

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