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Herley reports Q2 loss of $3.8M
Lancaster County-based Herley Industries Inc. reported a net loss of $3.8 million for the second quarter of 2007.
In the year-ago period the company posted net income of $1.7 million, according to filings with the U.S. Securities and Exchange Commission.
The company attributed the majority of the poor performance to engineering and manufacturing difficulties on several large contracts. Delays to follow-up contracts were also to blame, according to the report.
This is the second consecutive quarter that Herley reported a loss.
Diluted losses per share were 28 cents. Analysts had estimated earnings per share of 18 cents.
Herley, headquartered in Manheim Township, develops and manufactures microwave-technology components used by the defense, aerospace and medical industries.
Herley shares are traded on the Nasdaq under the ticker symbol HRLY.
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