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EDO WINS MARINE CORPS CONTRACT FOR JOINT COMMUNICATIONS SYSTEM
NEW YORK - April 26, 2004 - EDO Corporation (NYSE: EDO) has been awarded a contract by the Marine Corps Systems Command valued at $19.3 million. The firm-fixed-price delivery order is for eight mobile, first-in units known as JECCS, the Joint Enhanced Core Communication System. Work on these units will continue through 2005.
The JECCS is a tightly integrated and multifunctional communication system mounted on a High Mobility Multipurpose Wheeled Vehicle (HMMWV). Designated the AN/TSQ-231, the system provides secure and non-secure voice and data telecommunication services, local-area-network and network-management services, messaging services, and satellite capabilities for a Marine Expeditionary Unit (MEU). The order was made under an indefinite-delivery/indefinite-quantity contract originally awarded to Darlington Inc. prior to their acquisition by EDO in March 2003. Darlington has been incorporated into EDO’s Combat Systems Division.
"This contract is an important milestone for us in the leading-edge technology of defense-related communications," said James M. Smith, EDO’s chief executive officer. "As the military strives to accomplish extremely challenging missions and avoid casualties, the way to get there is through advanced technology. JECCS is just one example of EDO products that we believe are truly transformational. We anticipate that as JECCS units are introduced into the field, we will see strong demand for this net-centric product line in the future."
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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