Herley Industries Inc. which manufactures microwave technology solutions for the defense, aerospace and medical industries, late Thursday said its fiscal second-quarter earnings leaped 76 percent due higher sales from major production programs and a volume jump due to efficiency improvements. Herley Industries Inc trades on the “NASDAQ” under the stock symbol “HRLY”. For the Latest information regarding “HRLY”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Herley Industries Inc.(NASDAQ:HRLY), which manufactures microwave technology solutions for the defense, aerospace and medical industries, late Thursday said its fiscal second-quarter earnings leaped 76 percent due higher sales from major production programs and a volume jump due to efficiency improvements.
The company earned $3.8 million, or 27 cents per share, compared with $2.2 million, or 16 cents per share, in the same period a year earlier.
The company attributed the sales jump to increased deliveries under major production programs and higher product volume because of manufacturing process improvements. Shares fell 71 cents, or 4.9 percent, to $13.79 in Friday afternoon trading, but they earlier set a new year high of $14.54. The stock's previous peak of $14.52 was set Thursday.
About Herley Industries Inc:
Herley Industries, Inc., together with its subsidiaries, engages in the design, development, and manufacture of microwave technology solutions for the defense, aerospace, and medical industries worldwide. Its products include telemetry systems, command and control systems, transponders, flight termination receivers, HF communications and IFF interrogators, high power amplifiers, microwave integrated circuits, high/low power integrated assembly, solid state receiver protectors, digitally tuned oscillators, and simulation equipment, as well as scientific products and medical products, such as single modules and rack mounted amplifiers. The companys products are embedded in range of radars, flight instrumentation, weapons sensors, electronic warfare systems, and guidance systems. Herley Industries, Inc. sells its products to defense prime contractors, original equipment manufacturers, research centers, and universities in commercial markets, as well as to the United States government. The company was founded in 1965 and is headquartered in Lancaster, Pennsylvania.
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