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EDO in the News . . .
September 3, 2007
Posted by Aviation Week
and Space Technology
A JAMMING YEAR
Face to Face with James M. Smith
View
article - NXTbook
August 1, 2007
Posted by Joe Anselmo,
Senior Editor, Aviation Week and Space Technology
It's not always easy for a journalist to find common ground with a CEO, especially an accomplished one who joined his company around the time I was born and whose office atop a fancy Manhattan skyscraper affords a slightly nicer view than my 9th floor cubicle. But it turns out EDO Corp.'s James Smith and I do share something in common. In a sense, we both owe our jobs to a World War I veteran.
EDO, best known today for the electronic bomb jamming devices it makes to protect U.S. soldiers in Iraq, was founded in 1925 by aviation pioneer Earl Dodge Osborn (the company's name represents his initials). But as Smith told me when we sat down for an interview, Osborn also served a variety of posts during the 1920s at a new magazine called Aviation, including stints as president, editor and publisher. That magazine today is called Aviation Week & Space Technology.
Intrigued, but a bit skeptical -- I am a journalist -- I called Andrea Hollowell, a news editor in our New York office. She perused our dusty bound editions of old magazines, and sure enough, there was Osborn's name on the masthead.
Osborn died in 1988. EDO, the company he left behind, is on track to sell more than $1 billion worth of military electronics equipment this year. And today, Aviation Week & Space Technology celebrates the 91st anniversary of its first issue on Aug. 1, 1916.
July 17, 2007
Posted
by Joe Anselmo, Senior Editor, Aviation Week and Space Technology
EDO Stock Keeps on Jamming
EDO Corp.'s stock hit a new high on Tuesday after the Pentagon exercised options for 3,000 additional bomb-jamming devices used to help protect U.S. soldiers in Iraq and Afghanistan.
The CREW 2.1 contract, worth $210 million, extends the position of New York-based EDO
as the sole supplier of the devices, which attach to vehicles and use electronic countermeasures
to jam the radio signals used by insurgents to detonate roadside bombs.
The new contract was announced Monday night. EDO stock opened Tuesday at $35.25 a share
-- up 6% from its Monday close -- and closed the day at $36.88. The stock has been in
a sustained upswing since March, when it was traded as low as $22.12.
The company's improved fortunes have also led to multiple upgrades from Wall Street analysts. The stock now has eight "buy" ratings and five "holds," compared with three "buys" and 10 "holds" just three months ago.
JSA Research analyst Peter J. Arment reiterates his "buy" rating on the contract news and is raising his year-end price target by $4, to $42. But Citigroup's George Shapiro maintains his "hold" on the stock. He believes it's likely the Pentagon will spread future awards for electronic countermeasure devices to some of EDO's competitors. "Do not expect all the additional awards to go to EDO," he cautions.
July
16, 2007
As
reported by U.S. Department of Defense:
CONTRACTS - NAVY
EDO Receives Additional Orders for CREW 2.1 Counter-IED Systems
EDO Communications & Countermeasures Systems (EDO CCS), Thousand Oaks, Calif., is being awarded a $209,884,759 modification to previously awarded contract (N00024-07-C-6311) to exercise options for the production and support of 3,000 vehicle–mounted, Counter- Radio Controlled Improvised Explosive Device (RCIED) Electronic Warfare (CREW) systems to meet urgent Department of Defense requirements in support of Operation Iraqi Freedom and Operation Enduring Freedom. Vehicle Mounted CREW systems are one element of the DoD’s Joint Counter RCIED Electronic Warfare program. Spiral 2.1 CREW systems are vehicle mounted electronic jammers designed to prevent the initiation of RCIED. Work will be performed in Thousand Oaks, Calif. (87 percent); and Lancaster, Calif. (13 percent), and is expected to be completed by August 2008. Contract funds will not expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.
June 18, 2007
EDO
Corporation is proud to announce that Senior Engineer Lifang Yuan has been selected to
participate in the National Academy of Engineering's Frontiers of Engineering program.
This program brings together some of the best engineering talent in the country who are
performing exceptional engineering research and technical work in a variety of disciplines.
Below is a link to the National Academy of Engineering news release announcing Lifang’s selection. We at EDO extend our sincere congratulations.
James M. Smith
Chairman, President and CEO
May
9, 2007
As Released by Sikorsky Aircraft Corp:
Sikorsky Selects CH-53K Fuselage Supplier Team
Wednesday May 9, 1:04 pm ET
STRATFORD, Conn., May 9 /PRNewswire/ -- Sikorsky Aircraft announced
today that it has selected four subcontractors to design and fabricate the major fuselage
sections for its new CH-53K heavy-lift helicopter currently under development for the
United States Marine Corps. Sikorsky Aircraft is a subsidiary of United Technologies
Corp. (NYSE: UTX - News).
Sikorsky's Fuselage Team will consist of Aurora Flight Sciences, EDO Corp., GKN Aerospace, and Spirit AeroSystems. They were selected following an extensive solicitation and evaluation of multiple bids over a 12-month competition.
"Sikorsky is pleased to welcome four new team members to the CH-53K helicopter program. This evaluation was one of the most complex undertaken by Sikorsky to date, and we are confident that the sources selected provide the best value and lowest risk for our Marine Corps customer. The combination of Aurora, EDO, GKN, and Spirit brings world class capability, experience and innovation to the CH-53K team," said Dave Haines, Sikorsky's CH-53K Program Manager.
These selected sources will design and manufacture the CH-53K primary and secondary structures. Sikorsky will conduct the integration and test program on the complete fuselage structure. The major subcontracted sections include the cockpit and cabin (Spirit), aft transition (GKN), tail rotor pylon and sponsons (EDO), and main rotor pylon (Aurora). The fuselage development program will employ the latest advanced design tools, manufacturing processes and materials.
Design will be conducted in a collaborative environment between supplier sites and Sikorsky's Heavy Lift Development Center using model management systems paired with Sikorsky data collaboration and knowledge management systems. Composite and titanium materials are being employed extensively to provide superior fatigue and corrosion durability at minimum weight. State-of- the-art manufacturing processes such as co-curing, automated part fabrication, super high speed machining, and determinant assembly are intended to make the structure very affordable.
Under the System Development and Demonstration (SDD) contract, Sikorsky is responsible for selecting and managing the subsystem suppliers. Other major subsystems recently awarded on the program include the engines, fly-by-wire flight controls, and electric power system. Additional major subsystem awards anticipated in the coming months will be for the secondary power system, landing gear, hydraulic, fuel, and drive systems.
The SDD contract is expected to lead to production of 156 CH-53K aircraft to replace the CH-53E SUPER STALLION(TM) helicopters currently in the Marine Corps' inventory.
The three-engine Sikorsky CH-53E SUPER STALLION is the largest, most powerful maritime helicopter in the world. It is deployed from Marine Corps amphibious assault ships to transport personnel and equipment, and to carry external (slung) cargo loads.
The CH-53K will maintain virtually the same footprint as the CH-53E but will nearly double the payload to 27,000 pounds over 110 nautical miles under "hot high" ambient conditions. The CH-53K's maximum gross weight will increase to 84,700 pounds from 72,500 pounds for the CH-53E.
The CH-53K also is expected to result in reduced operation and support costs. Upgrades include joint interoperable glass cockpit; fly-by-wire flight controls; fourth generation rotor blades with anhedral tip; low-maintenance elastomeric rotorhead; gross weight expansion; upgraded engine system; cargo rail locking system; external cargo handling improvements; and survivability enhancements.
Aurora Flight Sciences develops and provides robotic aircraft and other advanced aerospace vehicles for scientific and military applications. Aurora's advanced composite structures for the CH-53K will be designed and fabricated at the company's Virginia and West Virginia facilities. Aurora is headquartered in Manassas, Va., and operates production plants in Bridgeport, W.Va., and Columbus, Miss., and a Research and Development Center in Cambridge, Mass.
EDO Corp. is a high technology company that designs and manufactures advanced structures and equipment for the military, space, aviation, marine and industrial markets. EDO's advanced composite structures for the CH-53K will be designed and fabricated at business units in three states. The design and final assembly will be centered in Amityville, N.Y. The composite fabrication will be conducted predominantly in Salt Lake City, Utah, with select resin transfer molded (RTM) parts fabricated in Walpole, Mass.
GKN Aerospace is the aerospace operation of GKN plc, one of the world's largest engineering companies. GKN Aerospace has a turnover exceeding $1.3 billion and some 6,650 personnel employed in 24 Centres of Manufacturing Excellence around the globe. The company specializes in the supply of lightweight metallic and high performance composite structures, transparency systems and equipment, and engineering services to prime airframe manufacturers. The CH-53K program will be conducted at both the company's engineering facility in Nashville, Tenn., and manufacturing facility in St. Louis, Mo.
Spirit AeroSystems designs and builds fuselage, nacelles, and wing components for some of the best-selling commercial aircraft in the world, including the Boeing 737, 747, 767, and 777. Spirit also recently delivered the first production forward fuselage for the new all-composite 787 Dreamliner. Spirit has extensive capability in the management of integrated design, build, test, certification, procurement, and support programs on a global basis. The CH-53K program will be conducted from the company's state of the art engineering and manufacturing/tooling facility in Wichita, Kan.
Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacturing, and service. The company's long commitment to safety and innovation is reflected in its mission statement: "We pioneer flight solutions that bring people home everywhere ... every time(TM)." United Technologies Corp., based in Hartford, Conn., provides a broad range of high- technology products and support services to the aerospace and building systems industries.
This press release contains forward-looking statements concerning future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in government procurement priorities and practices or in the number of aircraft to be built; challenges in the design, development, production and support of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corporation's Securities and Exchange Commission filings.
Source: Sikorsky Aircraft Corp.
May
3, 2007
As
reported by UMass Amherst:
Four Honorary Degrees to be Awarded by UMASS Amherst
at Commencement Ceremonies
Alumnus Edward P. Marram to receive
a Distinguished Achievement Award
AMHERST, Mass. – The University of Massachusetts Amherst will award four honorary degrees during its undergraduate and graduate commencement ceremonies May 25-26.
At the Undergraduate Commencement at Warren P. McGuirk Alumni Stadium on May 26, Grace K. Fey, former chairwoman of the UMass Board of Trustees, will receive an honorary doctor of public service degree, and James Michael Smith, an alumnus who is chairman and chief executive officer at EDO Corp., will receive an honorary doctor of engineering degree. Alumnus Edward P. Marram, an entrepreneur and businessman in high technology, will receive a Distinguished Achievement Award.
At the Graduate Commencement May 25, alumnus Tisato Kajiyama, president of Kyushu University in Japan, will receive an honorary doctor of science degree, and Andrew H. Card Jr., former chief of staff for President George W. Bush, will receive an honorary doctor of public service degree.
BIOGRAPHICAL PROFILES
Grace K. Fey is an executive vice president and director of
Frontier Capital Management Co., LLC, a Boston-based, $6 billion investment-management
firm. She manages $800 million in large cap growth and SRI portfolios for institutional
and individual investors, and is a member of Frontier’s management committee.
Fey is the former chairwoman of the UMass Board of Trustees and president of the UMass Foundation, which leads and supports private fund-raising on behalf of UMass. She currently serves on the foundation board and investment committee, and chairs the board of governors of the University of Massachusetts Club. Fey is a former member of the state Board of Higher Education, which oversees state and community colleges, and is now on the advisory board of the Center for Collaborative Leadership at UMass Boston.
A chartered financial analyst (CFA) and member of the CFA Institute and the Boston Society of Security Analysts, Fey also belongs to the Investment Management Consultants Association, the Interfaith Center on Corporate Responsibility, and the Social Investment Forum. Her work on behalf of civic and cultural institutions includes, in part, chairing the boards of Zoo New England and The Commonwealth Institute, and being a trustee of the Huntington Theatre and the Emerald Necklace Conservancy. Fey has been featured in Business Week, USA Today, The Wall Street Journal, Forbes and other major publications, and has frequently appeared on CNBC and CNN.
James Michael Smith is chairman, president and chief executive officer of EDO Corp., a provider of military and commercial products and professional services in technologies such as defense electronics and communications and aircraft armament. The company has annual revenues of more than $700 million and employs 4,200 people.
After receiving a bachelor’s degree in electrical engineering from UMass Amherst in 1967, Smith began his career at AIL Technologies Inc. He held a series of increasingly responsible positions and earned a master’s degree in electrical engineering from the Polytechnic Institute of New York in 1971. Smith was named AIL president in July 1991, and in January 1992 became the corporation’s CEO. In April 2000 AIL merged with EDO, and Smith was appointed president and CEO. He was elected chairman of the board on May 7, 2002.
Under Smith’s leadership, EDO has been included in 2002 and 2004 in Fortune magazine’s "Annual List of the 100 Fastest-Growing Companies." Forbes recognized EDO in 2005 as one of the "200 Best-Managed Small Companies" and in 2006 as one of the "25 Fastest-Growing Technology Companies."
Smith serves on the board of governors of the Aerospace Industries Association and on the boards of trustees of the Polytechnical Institute of New York and the Naval War College Foundation. He has served as chairman of the New York Council of the American Electronics Association and the Long Island Association, and on the board of the National Defense Industrial Association.
Edward P. Marram is the founder, president, and CEO of Geo-Centers Inc., which provides services and products for homeland-security preparedness and has twice been recognized by Inc. magazine as one of the nation’s fastest-growing privately held companies.
For 35 years, Marram has exercised his talent for high-technology entrepreneurship and helped foster a whole generation of new entrepreneurs. Marram has a history of taking charge at centers of great crisis. He was at Three Mile Island the day of the 1979 accident, helping to direct the transporting of radioactive material out of the area. The first responders to the 9/11 World Trade Center attack were trained by Marram in handling weapons of mass destruction. He has twice been appointed to the Summer National Defense Science Board, crafting strategic recommendations for the Pentagon.
Marram is entrepreneur-in-residence at Babson College and has taught executive management courses in Venezuela, Germany, Belgium, France, Scotland, Israel and elsewhere. At UMass Amherst, he created a scholarship 20 years ago and has served for more than 10 years on the advisory committee of the College of Natural Sciences and Mathematics.
Marram has served on many public and private boards. He is a member of the National Association of Corporate Directors and the board of overseers for Children’s Hospital Boston, and a former member of the Health and Educational Financial Authority of Massachusetts.
Tisato Kajiyama is president of Kyushu University, founded in 1911 as one of the former seven imperial universities in Japan. He also serves as vice president of the Japan Association of National Universities. One of the world’s most respected polymer scientists, Kajiyama is generally credited with having initiated and developed the polymer surface and interfacial phenomena.
In 1969 Kajiyama was the first doctoral graduate from UMass Amherst’s department of polymer science and engineering. He is today responsible for securing and maintaining strong relationships between this campus and Japanese polymer and physics societies. After joining Kyushu University as an assistant professor of polymer chemistry in 1970, Kajiyama earned a doctor of engineering degree there in 1975. He served on the university’s engineering faculty from 1984 to 2001, and as dean of that faculty from 2000 to 2002.
Kajiyama has conducted research in surface structure, fatigue analyses of polymeric solids, molecular design of monolayers and LB films, and blood compatibility of biomedical polymers. He has received many Japanese and international awards for scientific accomplishment, service and outreach, including the Polymer Science Award from the Society of Polymer Science, Japan; the Divisional Award from the Chemical Society of Japan; the UMass Amherst’s Chancellor’s Medal, and recently a Distinguished Alumni Award. He has written close to 800 scientific papers and more than 150 other articles.
His extraordinary body of work has greatly influenced the polymer science and engineering department at UMass Amherst and has done much to generate support and funding for research and development on campus and within the field generally.
Andrew H. Card Jr. served as chief of staff to President George W. Bush from 2000 to 2006 and was the second-longest serving White House chief of staff. From 1992-93, Card was the 11th U.S. Secretary of Transportation under President George H.W. Bush. In August 1992, Card coordinated the administration’s disaster relief efforts in the wake of Hurricane Andrew and later directed Bush’s transition office during the transition from the Bush Administration to the Clinton Administration.
From 1988-92, Card served in the first President Bush’s administration as assistant to the president and deputy chief of staff. Card also served in President Ronald Reagan’s administration as special assistant to the president for intergovernmental affairs and subsequently as deputy assistant to the president and director of intergovernmental affairs, where he was liaison to governors, statewide elected officials, state legislators, mayors and other elected officials.
Card was General Motors’ vice president of government relations from 1999 until he joined George W. Bush’s administration. From 1993-98, Card was president and chief executive officer of the American Automobile Manufacturers Association (AAMA), the trade association whose members were Chrysler Corp., Ford Motor Co. and General Motors Corp. The AAMA dissolved in December 1998.
A native of Holbrook, Card served in the Massachusetts House of Representatives from 1975-83. Card graduated from the University of South Carolina with a bachelor of science degree in engineering. He attended the United States Merchant Marine Academy and the John F. Kennedy School of Government at Harvard University and has received numerous honorary degrees and awards.
Contact: Patrick J. Callahan413/545-0444
May,
2007
As reported Defense Technoloby International:
SIZING UP BUSINESS - Q&A with James M. Smith, Chairman, President & CEO EDO Corporation
April 13, 2007
As reported by UPI:
EDO Lands IED Jamming Contract
DATELINE: NEW YORK, April 13
Improvised explosive devices take a heavy toll on U.S. troops in Iraq, but a special
device has been ordered to help defeat those detonated by radio-signal.
The device is produced by New York's EDO Corp., which has received an $88 million Department of Defense contract for its system.
The company said the Pentagon ordered 1,100 of its CREW 2.1 systems, which are seen as an improvement over earlier jammers that blocked radio detonators but also interfered with communications between U.S. convoys and their bases.
Improvised explosive devices, or IEDs, account for the majority of U.S. casualties in Iraq.
The contract will be carried out with all due speed, EDO pledged in a statement Tuesday.
"These vehicle-mounted systems are going to counter one of the biggest threats harming our troops in the field," said CEO James Smith. "EDO will work diligently to make sure the equipment is delivered as quickly as possible."
The EDO contract comes a few weeks after Lockheed Martin received an order for a similar system known as Symphony.
Details of how Symphony and CREW 2.1 work were not publicized, but defense analysts have concluded that al-Qaida and its ilk appear to have come into possession of their own electronic-warfare gear capable of "jamming the jammers" so that IEDs can be triggered by remote control regardless of U.S. countermeasures. The Pentagon has also reported the emergence of an infrared detonator that can touch off a bomb without the use of radio frequencies that are vulnerable to jamming.
April
13, 2007
As reported by UPI:
U.S. Updates Bombers to Better Fool Radar
DATELINE: NEW YORK, April 12
The U.S. Air Force is further improving the radar-evasion equipment aboard the B-1B bombers
that are a mainstay of its "shock-and-awe" air operations.
EDO Corp. announced Wednesday it had received a $16 million contract for the job, which will be completed by the end of 2008.
The upgrade is essential since the B-1B Lancer is a primary U.S. strategic-attack weapon that was designed to carry nuclear weapons but is now capable of delivering conventional ordnance from both high and low altitudes. The plane is being integrated with a new standoff cruise missile that will allow it to launch attacks well away from enemy anti-aircraft installations.
The plane will still be required to penetrate air defenses for raids deep inside enemy territory, which makes its ability to fool radar as important as ever.
New York-based EDO said it would be updating the current AN/ALQ-161A defensive suite, particularly the Digital Radar Frequency Memory (DRFM) generator. The DRFM "captures" radar signals digitally and then instantly reproduces them. The reproduced signals can be beamed back to the radar station with changes that show up on the enemy screen as a different radar signature or location.
"The AN/ALQ-161A defensive avionics suite is one of the most comprehensive electronic counter-measure packages ever built," declared CEO James Smith. "While the original engineering concepts are sound, there are many benefits to be gained by upgrading hardware and software that was developed in the 1980s. We expect this work to yield dramatic improvements in system performance."
January 8, 2007
As reported by the Charleston Regional Business Journal:
EDO's New Facility to Ssupport $240 Million Military Contract
by Shelia Watson, Contributing Writer
At the recent ribbon-cutting for EDO Corp.’s new building on Daniel Island, CEO James Smith noted that the facility, at 50,000 square feet, will support the anticipated growth in the company’s communications and networking systems business unit.
"Here we design and integrate voice and data communications equipment into end-to-end network solutions," said Smith.
The company’s primary product and target market—battlefield communications systems for Marine warfighters—was evident by the attendance of U.S. Rep. Henry Brown Jr., South Carolina’s First District congressman who serves on the House Veterans Affairs Committee. The U.S. government accounts for 82% of the company’s sales, with 14% of sales going to international companies and foreign governments.
"EDO’s mission to provide state-of-the art communications and networking systems to our nation’s military is in keeping with our area’s considerable history of contributing to the defense of our nation," said Brown.
EDO designs and manufactures a range of products and services for defense, intelligence and commercial markets. The company’s market-driven structure is focused on six major market sectors: integrated systems and structures, undersea warfare, professional and engineering services, electronic warfare, intelligence and information warfare, and a sector known as C4—command, control, communications and computers.
The Daniel Island facility is responsible for supporting the Transition Switch Module program, which is a key component of the military’s network-centric battlefield communications strategy. In 2005, EDO was awarded a contract with a maximum value of $240 million for various configurations of TSMs for the U.S. Marine Corps.
Another key product at this facility is the Joint Enhanced Core Communication System that EDO is producing for the Marine Corps. JECCS provides a mobile telecommunications central office, which is mounted on a Humvee that connects with the Defense Information Systems Network. The network gives individual marines full access to deployed communications networks.
EDO is hardly new to the Lowcountry. In the early 1990s, a company that EDO later acquired sent an employee to Charleston to work on a SPAWAR contract. By the late ’90s, the Lowcountry operation had grown large enough for a 6,000-square-foot leased facility in Wando, which was later enlarged by another 8,000 square feet.
According to John Vollmer, a vice president at EDO, one of the company’s
critical success factors is the Department of Defense’s transition from legacy
computing systems to off-the-shelf commercial technology, which the Charleston facility
was designed to provide.
The current operation employs 50, with projected growth to 70 in 2007. EDO’s recent contracts for this facility include an order from the Marine Corps for communications equipment installed on the Cougar family of mine-protected vehicles, which are manufactured by Ladson-based Force Protection Inc. The order, received in July, carries a base year value of $4.5 million with two option years, each with potential revenue of more than $5 million.
At the ribbon-cutting, Charleston Mayor Joseph P. Riley Jr. welcomed the company’s expansion in the area.
"EDO, a well-established corporation with clear high-growth potential will bring new jobs and the additional prestige of being one of Forbes magazine’s 25 fastest-growing technology companies," said Riley. "The investment of this large and diverse company is certainly a testament to the potential of our community and our commitment to careful growth and development."
Brown agreed, pointing to EDO’s investment in the community as "an indication of their belief in our ability to provide the technical talent necessary for their operations."
EDO’s 14 other offices build systems that are designed to jam radar and block radio and cell-phone signals that could be used to detonate roadside bombs. Those facilities also manufacture electronics for detecting ocean mines and guided missiles launched from airplanes.
Recent contracts for the other facilities include orders for radar simulators for the Canadian Air Force, worth approximately $2.4 million; a five-year task order for communications equipment to support the U.S. Army’s unmanned aircraft, with a ceiling value of $37 million and $1.1 million initial funding; and a contract from Lockheed Martin for the fabrication of precision, advanced-composite structures for the F-35 Lightning II aircraft program, valued at $1.8 million. These contracts were all awarded in November.
EDO is headquartered in New York and employs 4,200 people worldwide. The company name is derived from the initials of its founder, Earl Dodge Osborn, who invented aluminum floats for seaplanes, started the company in 1925 and retired as chairman of the board in 1962. EDO had revenue of $648 million in 2005.
The company acquired two privately held defense contracts this summer. It purchased Huntsville, Ala.-based CAS Inc., a provider of engineering services and weapons-system analysis to the Defense Department, for $175.6 million. Days later it bought Nashua, N.H.-based Impact Science & Technology Inc., a provider of analysis support to the intelligence sector, for $124 million.
Following the acquisitions, the company released a statement saying it expects 2006 revenue between $735 million and $750 million. In April, prior to the purchases, the company had forecast revenue between $680 million and $695 million.
July 27, 2006
As reported by the Associated Press:
EDO Buys 2 Defense Contractors
July 27, 2006 07:17 AM ET
NEW YORK (AP) - Military contractor EDO Corp. said Thursday
it bought two privately held services providers to the defense and intelligence sectors,
prompting the company to boost its full-year revenue outlook.
In a press release Thursday, EDO said it agreed to buy CAS Inc., a provider of engineering services and weapons-system analysis to the Defense Department, for $175.6 million.
EDO said the buy will boost earnings immediately, but did not specify by how much.
The company will pay $170.7 million in cash, using existing reserves and a credit facility. The balance will be paid in EDO shares.
CAS, based in Huntsville, Ala., employs more than 1,000 and operates in 13 states. In the 12 months ended March 31, the company had revenue of $184.3 million.
In a separate statement, EDO said it agreed to acquire Impact Science & Technology Inc., a provider of analysis support to the intelligence sector, for $124 million.
IST, which is expected to boost earnings immediately, had revenue of $63 million in the 12 months ended March 31. The company is based in Nashua, N.H.
Both deals are expected to close in the third quarter.
In a third release announcing a slight gain in second-quarter earnings, EDO said it now expects 2006 revenue between $735 million and $750 million. In April, the company forecast revenue between $680 million and $695 million. Analysts expect $678.7 million.
© 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
July 27, 2006
As reported by bizjournals.com:
EDO Corp. to Acquire Huntsville Military Contractor CAS Inc.
July 27, 2006 11:39 AM ET
CAS Inc. is slated to be acquired by EDO Corp. for more than $175 million.
Huntsville-based CAS, a privately held company, provides engineering services, logistics support and weapons-systems analysis to the U.S. Department of Defense. The company will become part of EDO's Engineered Systems and Services reporting segment.
New York-based EDO has signed a definitive agreement to acquire CAS for a cash payment of $170.7 million plus restricted EDO common shares valued at $4.9 million. In addition, certain senior managers will receive retention payments over a three-year period valued at $10 million.
The transaction is expected to close in the third quarter.
With about 1,000 employees operating in 13 states and on military bases worldwide, CAS reported revenue for the 12 months ended March 31, 2006, of $184.3 million. The company's annual growth has averaged more than 18 percent over the past five fiscal years.
James Smith, EDO's chief executive, said in a news release he expects the acquisition to "significantly increase the breadth and scale of our professional and engineering services-related revenue base."
Services provided by CAS include system engineering and analysis support for theater missile defense, air defense, aviation, and land-combat missile systems.
Founded in 1925, EDO employs 3,000 people worldwide and reported revenue of $648 million in 2005.
Copyright 2006 bizjournals.com
July 27, 2006
As reported by briefings.com:
Market Report -- In Play (EDO)
July 27, 2006 06:07:00 AM ET
EDO to acquire Impact Science & Technology Co has signed a definitive agreement to acquire Impact Science & Technology, a privately-held co that provides Signals Intelligence systems and analysis support to the intelligence community, and advanced countermeasures and electronic-attack systems to the DOD and other government agencies. EDO will purchase all of the outstanding shares of the company for $124 mln, consisting of a cash payment of $106 mln and an $18 mln promissory note to be paid over three years.
Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.
July 18, 2006
As posted on the Boeing web site:
Boeing Persistent Munition Technology Demonstrator
Achieves Autonomous Flight
ST. LOUIS, July 18, 2006 -- The
Boeing [NYSE: BA]
Persistent Munition Technology Demonstrator (PMTD), a test bed for future unmanned aerial
vehicles, flew autonomously for the first time during a test in April at Vandalia Municipal
Airport, Ill.
Boeing
developed the 60-pound PMTD to demonstrate emerging technologies through incremental
upgrades and flight demonstration phases. With a wingspan of 12 feet, the vehicle's airframe
is designed for extended loiter times, air or surface launch and other potential capabilities.
During the test, the PMTD navigated to 14 programmed locations flawlessly, changed altitudes
at four different points and achieved pre-planned speeds.
"The PMTD is intended to serve as a test bed for future small unmanned aerial vehicles
and persistent weapon technologies," said Carl Avila, director, Advanced Weapons
and Missile Systems for Boeing. "We're looking forward to working with our U.S.
Air Force customer to define a PMTD demonstration plan to enable development of future
warfighter capabilities."
After taxi and take off, the remote-controlled vehicle immediately switched to autonomous
flight mode. After completing its pre-planned flight profile, the PMTD lined up on the
runway for pilot takeover and landing.
"The engineering challenge of reducing weight and cost while improving performance
is the type of project that really excites us," said EDO Corporation CEO James M.
Smith. "We are extremely pleased to bring our experience with lightweight composite
materials to the Dominator team."
EDO Corporation funded the PMTD composite airframe development, and Boeing funded all
PMTD flight tests.
This first phase of the PMTD program focused on demonstrating autonomous flight capabilities.
Future plans include sensor integration and enhanced weapon terminal guidance demonstration,
as well as possible in-flight refueling and munitions dispense testing.
EDO Corporation designs and manufactures a diverse range of products for defense, intelligence
and commercial markets, and provides related engineering and professional services. Major
product groups include: Defense Electronics, Communications, Aircraft Armament Systems,
Undersea Warfare and Integrated Composite Structures. EDO's advanced systems are at the
core of the transformation to lighter, faster and smarter defense capabilities. With
headquarters in New York, EDO Corporation: (http://www.edocorp.com)
employs 3,000 people worldwide. The company was founded in 1925 and had revenues of $648
million in 2005.
A unit of The Boeing Company, Boeing Integrated Defense Systems
is one of the world's largest space and defense businesses. Headquartered in St. Louis,
Boeing Integrated Defense Systems is a $30.8 billion business. It provides network-centric
system solutions to its global military, government and commercial customers. It is a
leading provider of intelligence, surveillance and reconnaissance systems; the world's
largest military aircraft manufacturer; the world's largest satellite manufacturer; a
foremost provider of advanced concepts and technologies; a leading provider of space-based
communications; the primary systems integrator for U.S. missile defense; NASA's largest
contractor; and a global leader in sustainment solutions and launch services.
Contact Info:
Marguerite Ozburn
Boeing Global Strike Systems
office: (314) 306-0630
mobile: (314) 306-0630
marguerite.a.ozburn@boeing.com
Boeing press release: http://boeing.com/news/releases/2006/q3/060718d_pr.html
Images: http://boeingmedia.com/photoreleases/index.cfm
William A. Walkowiak
EDO Corporation
office: (212) 716-2038
ir@edocorp.com
May 29 , 2006
Federal Computer Week highlights:
Mobile
Work Zone Ahead
Better Wireless Options are Spurring a Building Boom of Mobile Applications
by Larry Stevens
About Federal Computer Week: Federal Computer Week was established in 1987 and edited for information technology buyers and decision makers in the federal government who are involved in making annual acquisitions that average over one million dollars. Provides news and analysis on how to buy, use and manage technology for all segments of the government buying team such as policy-makers, program and IT managers at civilian, defense and state and local agencies, as well as government systems integrators. Circulation stands at 101,323.February 7, 2006
As
Posted on Defense Industry Daily web Site:
EDO's AVEL Missile Ejection System: Extending the Raptor's Claws
EDO Corporation has been awarded a not-to-exceed, $17.2 million contract from Lockheed Martin Aeronautics Company for continued production of its LAU-142/A AMRAAM Vertical Ejection Launcher (AVEL, pron. "ayy-vell") for the F-22 Raptor. This latest order covers production for up to 24 Lot-6 aircraft, each of which is equipped with 6 AVEL launchers. Production Lot-6 will bring the total number of F-22 aircraft under order to 131, all of which are equipped with the AVEL. These aircraft are slated for delivery to the Air Force in 2008.
Why is the AVEL significant to the F-22's performance, and how was it developed? DID has done some research, and spoken to EDO...
EDO's original AMRAAM Eject Launcher (AEL) for the YF-22 demonstrator was developed during the 1980s, and used a "trapeze" approach. The system was designed to maximize the F-22's punch by giving it the ability to store its missiles in stealth-friendly internal bays. Nor would the launcher use explosives to achieve missile separation, as conventional launchers do. The new launchers had to:
AEL was based on the idea that the F-22 would carry 2 missiles in each of its two underside bays, and the general belief was that the launcher would have to impart forward momentum as the missile exited the aircraft in order to work properly. But during DEMVAL (Demonstration and validation) testing, the 412th Test Squadron at Edwards AFB discovered that horizontal momentum was not essential.
This was an important opportunity. The force and stress tolerance required of a trapeze design meant that it was heavy, and less maintenance-friendly than it could be. If its functions weren't absolutely necessary, the trapeze design needed to change. Once the F-22 contract was awarded, therefore, work began on a new launcher: the LAU-142A AVEL AMRAAM Vertical Eject Launcher. The critical timeframe was the 1991-1993 period between the F-22 contract award and the Preliminary Design Review, as the test team rethought the system with the aim of fitting more missiles in each bay. This was just one of the changes made to the original YF-22 design, but the potential to increase the plane's full-stealth AMRAAM load by 50% could turn a minor part into a major program win.
Still, this re-design was going to be challenging. Understanding the missile's dynamic loading is critical to the design of the launcher, which had to take place long before the F-22 had flown. Building a representative test fixture to apply (static) loads over the entire missile surface, instrumenting the launcher to measure the loads, then running multiple build-and-test iterations, would have been both time and cost prohibitive. Worse, the accuracy of the results would still have been in question without the ability to analyze dynamic loading.
As part of that rethink, therefore, EDO engineers turned to software. MSC Software's MSC.Adams virtual prototyping tool was used to develop the structural and dynamic models, cutting development times and cost considerably. Predictive analysis was used in simulation for structural integrity and analytical performance, avoiding multiple build/ re-build cycles. A total of 223 critical load conditions were applied to the model to account for the impact of air, inertial, and oscillatory forces under a wide range of different flight conditions. For each load case, Nicolas DeSimini, Senior Staff Engineer for EDO ran the virtual prototype through 15 time steps designed to simulate the missile launch and separation from the aircraft.
Throughout, Edwards Air force Base personnel and other members of the Integrated Product Team continued to play important roles, making design suggestions and assisting with evaluations.
The design evolved as they evolved toward the concept of a mostly aluminum pneumatic/hydraulic ejector mechanism using a six-bar linkage. The mechanism folds up like a scissors in the stowed position. During ejection it is stroked 9 inches by the pneumatic actuator, at which point it develops the required end of stroke velocity to safely separate the missile from the aircraft. The AVEL ejects the missile out of the bay at more than 25 feet per second with a force of 40G at peak acceleration, and the entire process from start to the closing of the bay door takes 3 seconds.
In the end EDO, Edwards' 412th Test Squadron, and the other stakeholders involved in AVEL delivered a launcher to the Lockheed-led F-22 team that allows the Raptor to carry 3 missiles in each internal weapons bay - while shrinking the bay itself and reducing the aircraft's weight by 264 pounds. Thrust:weight is a critical ratio for any fighter, and improvements are always welcome; meanwhile, stealth compatible weapons capacity had been increased by 50% to six AMRAAM missiles.
Note that the F-22's side bays, which feature launchers for AIM-9X Sidewinder missiles, are not made by EDO but by another company under contract to Lockheed.
"The AVEL is an example of the type of highly-engineered technology that is central to our growth strategy," said EDO Corp. CEO James M. Smith.
In addition to the new F-22 platform, EDO provides aircraft-armament equipment for the F-15, F-16, and F/A-18. The company is also developing ejection systems for the Navy's new P-8A Multi-mission Maritime Aircraft, as well as an internal weapons launcher for the F-35 Joint Strike Fighter (the "Pneumatic LAU-120") which remains in development. It will face different loading than the F-22's AVEL, as it must be able to handle much heavier ordnance. Nevertheless, EDO told DID that the Pneumatic LAU-120 has benefited significantly from work done on AVEL, and that simulation software remains a very important part of their design process.
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