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EDO TO DEVELOP INTERACTIVE TRAINING COUSEWARE
FOR COMANCHE HELICOPTER
NEW YORK -- September 4, 2003 -- EDO Corporation (NYSE:EDO) ) has been awarded a general purchase agreement from Sikorsky Aircraft Corporation for continued development of interactive multimedia training courseware for the Comanche RAH 66 helicopter. The purchase agreement has an initial ceiling of $7 million and extends through December 2011.
This is the latest in a range of contracts related to the Comanche platform. For example, EDO has won contracts for design and fabrication of complex composite structures and components on the Comanche. These structures have strength and lightweight specifications that cannot be achieved with metal alloys. EDO's proposals typically include complex curving geometry and other unique design solutions.
"The Comanche development program is an excellent example of our ability to assist prime defense contractors in addressing a combination of technical challenges," said James M. Smith, EDO's chief executive officer. "In addition to the full suite of Comanche operating and maintenance courseware, we are providing high-performance composite materials, as well as advanced antennas and weapons-carriage technology. This sophisticated aircraft gives EDO an ideal opportunity to demonstrate our diverse range of capabilities."
The former Advanced Engineering and Research Associates, which was acquired in February and has been consolidated into EDO's Professional Services Division, has been providing interactive training and related services for the Comanche program since July 2001. Under previous contracts, the company developed a secure Internet portal for the exchange of programmatic and training data, and a content management system for interactive multimedia instruction. It enables rapid courseware updates as engineering changes occur. The systems utilize commercial off-the-shelf software tools, and are compliant with Shareable Content Object Reference Model (SCORM) standards.
EDO Fiber Science, which designs and manufactures lightweight advanced fiber-reinforced composite products, has contracts with Sikorsky for more than 140 carbon-fiber structures, and is working on designs for additional components that would benefit from the high-performance characteristics of advanced composite materials. EDO's Marine and Aircraft Systems and Antenna Products and Technologies business units are also participating on the Comanche platform.
EDO Antenna Products and Technologies, in partnership with Raytheon Systems Limited, is providing anti-jam global positioning satellite antennas for the Comanche platform. These antennas meet the stringent environmental and low-observability requirements of the platform while providing the inertial navigation system with highly-accurate GPS guidance.
EDO Corporation provides military products and professional services to the United States and allied governments, and their prime defense contractors. EDO is at the core of the transformation to a lighter, faster, and smarter national defense capability.
EDO (www.edocorp.com) was founded in 1925, and is headquartered in New York City. The company expects 2003 revenues to exceed $460 million, and employs 2,800 people.
Forward-Looking Statements
Certain statements made in this release, including statements about future sales, are
forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995. These statements are based on current expectations, estimates and projections
about the company's business based, in part, on assumptions made by management. These
statements are not guarantees of future performance and involve risks, uncertainties
and assumptions that are difficult to predict. Therefore, actual outcomes and results
may differ materially from what is expressed or forecasted in such forward-looking statements
due to numerous factors, including those described above and the following: changes in
demand for the company's products and services, product mix, the timing of customer orders
and deliveries, the impact of competitive products and services and pricing, and other
risks discussed from time to time in the company's Securities and Exchange Commission
filings and reports. In addition, such statements could be affected by general industry
and market conditions and growth rates, and general domestic and international economic
conditions. Such forward-looking statements speak only as of the date on which they are
made, and the company does not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date of this release.
Contact:
William A. Walkowiak, CFA
Director of Investor Relations
(212) 716-2038
ir@edocorp.com
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