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Herley Industries Inc. announced that its Herley-CTI subsidiary located in Whippany, NJ, has received an award for an indefinite-delivery/indefinite-quantity (ID/IQ) contract valued at approximately $8.5 M from a major US prime contractor to manufacture fast switching synthesizers for a radar system application. This six-year agreement is a follow-on to previous development and production contracts for this product.
Separately, Herley-CTI signed development and initial production agreements for a similar fast switching synthesizer to be used by the same customer in another radar application. These initial orders, valued at over $500,000, build on the prior delivery, price, and technical performance demonstrated by Herley-CTI with this customer. Follow-on contracts valued at over $4.0 M are expected for this second synthesizer over the next five to six years.
Richard F. Poirier, CEO and President, commented, "Herley-CTI has been producing highly reliable, state-of-the-art fast switching synthesizers for military and commercial applications for over a decade. Initially these products were used mainly in laboratory environments for simulator and test equipment applications. Over the past three years Herley-CTI has expanded their synthesizer markets by offering customized packaging and features, enabling applications in radar, EW, and other embedded systems. These two orders build on the frequency synthesis product heritage of Herley-CTI and validate the capability of these products to meet the needs of significant new markets. We expect Herley-CTI to continue to be a valued partner on these and other similar programs for years to come."
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