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EDO EXPANDS ELECTRONIC-CONTROL PRODUCT LINE
WITH CONTRACT FROM GENERAL DYNAMICS
NEW YORK - April 21, 2004 - EDO Corporation (NYSE: EDO) has been awarded a development contract by General Dynamics Armament and Technical Products, a business unit of General Dynamics, (NYSE: GD) for an electronic-interface module to control the GAU-19/A weapon system.
The GAU-19/A is a three-barreled, 12.7mm electric Gatling Gun that provides high-rate-of-fire firepower in a small, lightweight weapon system. EDO has been selected as the primary supplier of the "Gun Interface Module" that electronically controls the weapon’s operation.
General Dynamics is the prime contractor selected to supply and test the GAU-19/A weapon system for the OH-58D "Kiowa Warrior" application, the Army’s primary armed observation helicopter. Successful development testing could lead to production of the GAU-19/A system for about 300 Kiowa Warrior aircraft in the Army’s inventory.
"This contract marks EDO’s entrance into a carefully targeted new market," said James M. Smith, EDO’s chief executive officer. "As an extension of our very successful aircraft armament control systems, it is a technology niche where we have substantial expertise. Our EDO MTech business unit is a leader in the design and development of electronic control systems, such as those incorporated into ‘smart’ weapon storage-and-release systems on the F-16 and F-18 fighter aircraft. We are pleased that our initiative to expand into related electronic-control systems is generating such promising initial results."
EDO Corporation provides military and commercial products and professional services, with core competencies in a wide range of critical defense areas, including:
EDO (www.edocorp.com) was founded in 1925, and is headquartered in New York City. The company had revenues last year of $461 million, and employs 2,700 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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