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EDO CORPORATION ACQUIRES EVI TECHNOLOGY LLC
NEW YORK - May 11, 2005 - EDO Corporation (NYSE: EDO) has completed the acquisition of EVI Technology LLC, a privately-held company specializing in the design and production of communications systems for intelligence and law enforcement applications.
This acquisition is expected to add approximately $15 million to EDO’s revenues for the remainder of 2005, and $23 million on an annualized basis. EVI employs approximately 140 people, performing customer-directed research and development, product design, and manufacturing. Virtually all of EVI’s business is classified.
Like EDO, EVI is an engineering-driven company, with expertise in a number of synergistic areas. EVI adds important technology in pursuit of strategic markets, such as force protection and national security.
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 2,700 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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