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EDO RECEIVES $3.2 MILLION CONTRACT FOR PROFESSIONAL SERVICES
NEW YORK - April 19, 2005 - EDO Corporation (NYSE:
EDO) has been awarded a contract by the Office of Naval Research (ONR)
valued at up to $3.2 million to provide engineering services and program support. The
cost plus fixed-fee contract includes a one-year base with four one-year option periods.
The Office of Naval Research coordinates the science and technology programs of the United States Navy and Marine Corps. EDO will support ONR on a number of programs that will demonstrate high-speed flight capabilities and performance of expendable supersonic vehicles. Services will include program planning, coordination, and tracking at seven research sites. EDO will also participate in milestone meetings and assist in the daily program coordination between ONR, the Office of the Secretary of Defense, Naval Air Systems Command, NASA, and the Air Force.
"Our independent expertise on such high-technology programs serves a valuable role in coordinating multi-service efforts," said James M. Smith, EDO's chief executive officer. "These programs will demonstrate a range of advanced technologies related to supersonic aerodynamics, high-temperature materials, and high-speed turbine-engine propulsion systems."
The programs to be supported under this contract include the RATTLRS (Revolutionary Approach to Time-Critical Long Range Strike) flight-demonstration program. EDO will assist in the technical evaluation and assessment of RATTLRS and other high-speed related programs in the areas of weapons system traceability, systems integration and effectiveness assessments.
EDO Corporation designs and manufactures a diverse range of products for the defense industry and commercial markets, and provides related engineering and professional services.
Major product groups include: Defense Electronics, Communications, Aircraft Armament, Undersea Warfare, and Integrated Composite Structures. EDO’s advanced systems are at the core of the transformation to lighter, faster, and smarter defense capabilities.
EDO (www.edocorp.com) was founded in 1925 and is headquartered in New York City. The company employs 2,500 people and had revenues of $536 million in 2004.
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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