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Herley Reports Third Quarter Results
Date:6/12/2008

ges in operating assets

and liabilities:

Trade accounts receivable 4,416 (243)

Income taxes receivable (1,237) -

Costs incurred and income

recognized in excess of

billings on uncompleted

contracts and claims (5,385) 334

Other receivables (1,021) (1,310)

Inventories (9,876) (389)

Other current assets (477) (438)

Accounts payable, accrued

expenses and other 10,079 (3,597)

Billings in excess of costs

incurred and income

recognized on

uncompleted contracts 428 51

Income taxes payable (2,543) 1,796

Employment settlement

payments (1,034) (443)

Litigation settlement

payments (4,000) -

Advance payments on

contracts (52) 4,202

Other, net (531) 449

----------------- -----------------------

Total adjustments 7,238 10,749

----------------- -----------------------

Net cash (used in)

provided by operating

activities (2,785) 10,289

----------------- -----------------------

Cash flows from investing

activities:

Acquisition of technology

license - (179)

Proceeds from
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SOURCE Herley Industries, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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