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EDO AWARDED $240 MILLION CONTRACT FOR
MARINE CORPS COMMUNICATIONS SYSTEM
NEW YORK - June 25, 2004 - EDO Corporation (NYSE: EDO) ) has been awarded a contract for a new generation of Marine Corps field-communications equipment known as the Transition Switch Module. The company has now received the signed contract that was announced by the Department of Defense on June 15. The indefinite-delivery/indefinite-quantity contract has a maximum value of $240 million for the procurement of up to 476 units.
The contract was competitively awarded to EDO by the Marine Corps Systems Command in Quantico, Va. Work is expected to be completed by September 2011. The company has been issued the first delivery order under the contract, for $3.3 million, to initiate the engineering and development phase.
The Transition Switch Module will provide digital voice, data, and video communications to deployed Marine units. It will dynamically allocate bandwidth to handle the demanding needs of net-centric warfare.
TSM will also be a key element in the Marine Corps’ transition from legacy tri-service tactical switches to current commercial technology. Another key element of this transition is the Joint Enhanced Core Communication System, or JECCS, which EDO is also producing for the Marine Corps. JECCS will serve as a mobile telecommunications "central office" and connect with Transition Switch Modules to give individual Marines full access to the communications network.
"Integrated battlefield communications is a critical need for our military customers, and an area of expertise at which we excel," said James M. Smith, EDO’s chief executive officer. "EDO has a broad range of technical skills that include product design, manufacturing capability, and field support.
"We have been focusing on increasing our capabilities across the full C4I spectrum. In addition to TSM and JECCS, our Fleet Systems Engineering Team (FSET) provides worldwide fleet support for Navy C4I systems at shore stations as well as aboard every deployed Carrier Strike Group and Expeditionary Strike Group. We also have industry-leading expertise in tactical data communications, underwater communications, interference cancellation, electronic reconnaissance and surveillance, and advanced sensor and antenna technology."
TSM will provide three major functions. The deployable end office suite (DEOS) will provide voice-circuit switching and call-service-attendant capabilities. The remote subscriber access module (RSAM) will extend these telephone and data services to remote users. The deployable integrated transport suite (DITS) will provide bandwidth management, multiplexing, data distribution, and technical control functions. The DEOS, RSAM, and DITS will be integrated into transit cases for unit transport. The contract includes engineering design, production, testing, associated training, training devices, spares, field service, engineering/logistics services, and provisioning technical documentation.
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 revenue, 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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