|Traded as||NASDAQ: HRLY|
|Headquarters||Lancaster, Pennsylvania, United States|
|Richard Poirier, chairman and chief executive officer. Anello C. Garefino, chief financial officer.|
|Products||defense and commercial technology|
Number of employees
Herley Industries, based in Lancaster, Pennsylvania, is an American company that specializes in supplying microwave and millimeter wave products to defense and aerospace industries. They provide solutions for radars, flight instrumentation, weapon sensors, electronic warfare systems and guidance systems for contractors, the U.S. government, as well as governments and militaries worldwide.
Lancaster is a city located in South Central Pennsylvania which serves as the seat of Pennsylvania's Lancaster County and one of the oldest inland towns in the United States. With a population of 59,322, it ranks eighth in population among Pennsylvania's cities. The Lancaster metropolitan area population is 507,766, making it the 101st largest metropolitan area in the U.S. and second largest in the South Central Pennsylvania area.
Herley was founded in 1965,and has acquired several companies such as Vega Precision, Metraplex Corporation, General Microwave and Innovative Concepts throughout its history.
Through a small acquisition in June 1986 the company entered the flight instrumentation business beginning with the design and manufacture of range safety transponders.
In September 1992, the company acquired substantially all of the assets of Micro-Dynamics, Inc. of Woburn, Massachusetts, a microwave subsystem designer and manufacturer.
Woburn is a city in Middlesex County, Massachusetts, United States. The population was 38,120 at the 2010 census. Woburn is located 9 miles (14 km) north of Boston, Massachusetts.
In June 1993, the company acquired Vega Precision Laboratories, Inc. ("Vega") of Vienna, Virginia.
Vienna is a town in Fairfax County, Virginia, United States. As of the 2010 United States Census, it had a population of 15,687. Significantly more people live in ZIP codes with the Vienna postal addresses bordered approximately by Interstate 66 on the south, Interstate 495 on the east, Route 7 to the north, and Hunter Mill road to the west.
In July 1995, the company acquired the government systems business of Stewart Warner Electronics of Chicago, Illinois, a manufacturer of high frequency radio and IFF interrogator systems.
In August 1997, the company acquired Metraplex Corporation of Frederick, Maryland, allowing the company entry into the airborne PCM and FM telemetry and data acquisition systems market.
In January 1999, Herley Industries acquired General Microwave Corporation of Farmingdale, New York, a microwave subsystem manufacturer with a 30-year history in the industry.
In January 2000, Herley acquired Robinson Labs in Nashua, New Hampshire, a manufacturer of microwave components used in commercial wireless and defense applications.
In October 2000, Herley acquired American Microwave Technologies (AMT) in Anaheim, California, a manufacturer of solid-state broadband RF amplifiers used by the scientific and medical markets.
In September 2002, Herley acquired EW Simulation Technology Ltd., a UK manufacturer of electronic warfare simulator systems, increasing Herley's presence in the EW market and in the international market.
In March 2004, Herley acquired Communication Techniques, Inc., of Whippany, New Jersey, a manufacturer of phase locked sources and fast frequency changing direct synthesizers.
In September 2004, Herley acquired Reliable System Services, of Melbourne, Florida, which has focused on satellite-based command & control systems for defense customers.
In February 2005, Herley acquired Micro Systems, Inc. of Fort Walton Beach, Florida. Micro Systems is a recognized market leader in engineering, design and manufacturing of command & control systems for operation and tracking of unmanned aerial, seaborne and ground targets and missiles.
In April 2005, Herley acquired Innovative Concepts, Inc., of McLean, Virginia a company providing wireless communications technology and real-time embedded systems, software, hardware and high-speed processing in support of the defense industry.ICI was sold in November 2008 to Elbit Systems of America.
In June 2006, the company and its former chairman, Lee N. Blatt were indicted on multiple charges in connection with purported activities resulting in alleged excessive profits by the company on three contracts with the U.S. Department of Defense. Three of the company’s nine manufacturing plants were placed under suspension, meaning they could not initiate any new federal contracts. The plants affected were in Lancaster, Pennsylvania, Woburn, Massachusetts and Farmingdale, New York. In addition, a Chicago marketing office was also suspended. At approximately the same time, Herley stock lost approximately 34% of its value, decreasing to $10.06 a share, the lowest since November 1998.In July 2010 the company settled for $10 million USD without admitting any wrongdoing.
Lee N. Blatt retired at the time, and Myron Levy was chosen as his successor.On October 13, 2006, the company announced that it had reached an administrative agreement with the OGC Acquisition Integrity Office, Department of Navy. With this agreement, the suspension preventing new contract awards was lifted, and Herley was able to resume its normal business dealings with both its DOD and prime contractor customers.
In September 2008, Herley purchased Eyal Microwave Industries ('EMI') based in Kibbutz Eyal, Israel.
On July 22, 2009, Herley replaced Myron Levy as chief executive and chairman.The company stated that Levy's efforts had positioned it for future growth, but that it was “time for a completely new management team drawn from key personnel throughout the company with proven records of success, to move the company forward." David Lieberman, a previous member of the board and a partner with the New York firm of Beckman, Lieberman & Barandes LLP, was named chairman. Richard Poirier, who's been with Herley since 1992, was named the new CEO and president. As of 2015 Herley was acquired by Ultra Electronics and is now under the name Ultra - Herley.
Northrop Grumman Corporation is an American global aerospace and defense technology company formed by Northrop's 1994 purchase of Grumman. The company reported revenues in excess of $30 billion in 2018 and was the fourth-largest arms trader in the world in 2017 with about 84% of all revenue coming from defense related activities. Northrop Grumman is made up of four main business sectors: Aerospace Systems, Mission Systems, Technology Services and Innovation Systems. The corporate headquarters is located in West Falls Church, Virginia.
Honeywell International Inc. is an American multinational conglomerate company that makes a variety of commercial and consumer products, engineering services and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments. The company operates four business units, known as Strategic Business Units – Honeywell Aerospace, Home and Building Technologies (HBT), Safety and Productivity Solutions (SPS), and Honeywell Performance Materials and Technologies.
Celanese Corporation, also known as Hoechst Celanese, is a Fortune 500 global technology and specialty materials company with its headquarters in Irving, Texas, United States. The company is a leading producer of acetyl products, which are intermediate chemicals for nearly all major industries, and is the world's largest producer of vinyl acetate monomer (VAM).
Micron Technology, Inc. is an American global corporation based in Boise, Idaho. The company is a holding company for subsidiaries engaged in the design and production of computers, semiconductors, and other related products. The subsidiaries produce many forms of semiconductor devices, including dynamic random-access memory, flash memory, USB flash drives and solid-state drives. Its consumer products are marketed under the brands Crucial and Ballistix. Micron and Intel together created IM Flash Technologies, which produces NAND flash memory. It owned Lexar between 2006 and 2017.
CACI International Inc is an American multinational professional services and information technology company headquartered in Arlington, Virginia. CACI provides services to many branches of the federal government including defense, homeland security, intelligence, and healthcare.
Nuance is a U.S. based multinational computer software technology corporation, headquartered in Burlington, Massachusetts, United States on the outskirts of Boston, that provides speech recognition, and artificial intelligence. Current business products focus on server and embedded speech recognition, telephone call steering systems, automated telephone directory services, and medical transcription software and systems. The company also maintains a small division which does software and system development for military and government agencies based in Westborough, Massachusetts, allegedly called Twined.
Stanley Black & Decker, Inc., formerly known as The Stanley Works, is a Fortune 500 American manufacturer of industrial tools and household hardware and provider of security products and locks headquartered in the greater Hartford city of New Britain, Connecticut. Stanley Black & Decker is the result of the merger of Stanley Works and Black & Decker on March 12, 2010.
Elbit Systems Ltd. is an Israel-based international defense electronics company engaged in a wide range of programs throughout the world. The company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (C4ISR), unmanned aircraft systems (UAS), advanced electro-optics, electro-optic space systems, electronic warfare suites, signal intelligence (SIGINT) systems, data links and communications systems and radios.
BAE Systems Inc. is the wholly owned U.S. subsidiary of the British defence, security, and aerospace company BAE Systems plc, the world's second biggest defense company. The American unit employs approximately 30,000 workers within U.S. borders and several thousand more in Israel, South Africa, Sweden and the United Kingdom. Major business lines of BAE Systems Inc. include electronic warfare, sensing and communications equipment; armored vehicles, artillery systems; naval guns and naval ship repair; and cybersecurity and intelligence services.
Harris Corporation is an American technology company, defense contractor and information technology services provider that produces wireless equipment, tactical radios, electronic systems, night vision equipment and both terrestrial and spaceborne antennas for use in the government, defense and commercial sectors. They specialize in surveillance solutions, microwave weaponry, and electronic warfare.
LyondellBasell Industries N.V. is a public multinational chemical company with American and European roots, incorporated in the Netherlands, with U.S. operations headquarters in Houston, Texas, and global operations in London, UK. The company is the largest licensor of polyethylene and polypropylene technologies. It also produces ethylene, propylene, polyolefins, and oxyfuels.
AMX is an American manufacturer of video switching and control devices. It is currently owned by Samsung Electronics through Harman International Industries, and is part of the Harman Professional Division.
Integrated Micro-electronics, Inc. provides electronics manufacturing services (EMS) and power semiconductor assembly and test services (SATS) with manufacturing facilities in Asia, Europe, and North America. Its headquarters is located in Biñan, Laguna, Philippines.
Dover Corporation is an American conglomerate manufacturer of industrial products. Founded in 1955 in New York City, Dover is now based in Downers Grove, Illinois, and employs more than 26,000 people worldwide. Dover's business is divided into Three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. Each segment holds operating companies that are run like independent companies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under "DOV". Dover is ranked 360th on the Fortune 500. The company relocated its headquarters to Illinois from New York in mid-2010.
Microsemi Corporation was an Aliso Viejo, California-based provider of semiconductor and system solutions for aerospace & defense, communications, data center and industrial markets.
Xperi Corporation is a San Jose, California-based firm that licenses technology and intellectual property in areas such as mobile computing, communications, memory and data storage, and 3-D Integrated Circuit (“3DIC”) technologies, among others. Markets include semiconductor packaging and interconnect solutions, mobile, computational imaging, audio and automotive. Tessera, a subsidiary of Xperi, has licensed its chip packaging technology to numerous semiconductor manufacturers, including Intel and Samsung Electronics.
MACOM Technology Solutions is a developer and producer of radio, microwave, and millimeter wave semiconductor devices and components. The company is headquartered in Lowell, Massachusetts, and in 2005 was Lowell's largest private employer. MACOM is certified to the ISO9001 international quality standard and ISO14001 environmental standard. The company has design centers and sales offices in North America, Europe, Asia and Australia.
Mercury Systems, Inc.( NASDAQ: MRCY ) is a high-tech commercial company serving the aerospace and defense industries. Headquartered in Andover, Massachusetts. Their processing subsystems are used in Intelligence, Surveillance and Reconnaissance (ISR), Radar, Electronic Warfare (EW), storage and guidance defense applications.
UFP Technologies, Inc., founded in 1963 and based in Newburyport, Massachusetts, is an innovative designer and custom manufacturer of components, sub-assemblies, products and packaging utilizing highly specialized foams, films, and plastics primarily for the medical market.
Esterline Technologies Corporation is a publicly traded company that designs, manufactures, and markets specialty products primarily for aerospace and defense customers. The company is best known as a supplier of products and equipment for aerospace companies such as Boeing and Airbus; and for American and allied military forces.
Herley has nearly 1,000 employees at eight operating divisions