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EDO AND SONARTECH ATLAS JOIN FORCES FOR
AUSTRALIAN COMPETITION
NEW YORK & SYDNEY, Australia - Feb. 2, 2006 - EDO Corporation (NYSE: EDO) and SONARTECH ATLAS Pty Ltd have teamed to compete for the undersea-warfare suite on the Australian Air Warfare Destroyer. Under the agreement, EDO will offer its Integrated Sonar Suite and SONARTECH ATLAS will provide in-country systems engineering, project management and through life support capabilities.
EDO’s Integrated Sonar Suite has already been selected by the Royal Navy for the UK’s Type 45 Air Warfare Destroyer. It is an open system, using commercially available components, which provide interoperability, low risk, and high value for the investment.
The EDO-SONARTECH ATLAS team will make this advanced technology available to the Australian program, in addition to performance gains that continue to be realized from the ongoing joint development of the system in the US and UK.
"This agreement will allow Australian industry to participate as an equal partner in future system developments alongside their US and UK counterparts," said EDO Chief Executive Officer James M. Smith. "Moreover it will ensure that the Royal Australian Navy will have the latest Undersea Warfare capability available throughout the service life of the Air Warfare Destroyers. We expect this agreement to be a strong win for both partners."
About EDO Corporation
EDO Corporation designs and manufactures a diverse range of products for defense, intelligence,
and commercial markets, and provides related engineering and professional services.
Major product groups include: Defense Electronics, Communications, Aircraft Armament Systems, Undersea Warfare, and Integrated Composite Structures. EDO’s advanced systems are at the core of the transformation to lighter, faster, and smarter defense capabilities.
About SONARTECH ATLAS
SONARTECH ATLAS design, develops integrates and supports sonar systems in Australia for
naval and commercial applications including submarines, mine warfare, hydrographic survey
and oceanographic research. SONARTECH ATLAS systems are being supplied to the RAN under
the Collins Replacement Combat System program and exported worldwide including to the
United States Navy.
SONARTECH ATLAS (www.sonartech.com.au) is headquartered in Sydney, Australia and is majority owned by ATLAS Elektronik GmbH, a leading European naval systems house and one of the world’s major providers of undersea warfare solutions.
Forward-Looking Statements
Certain statements made in this release, including statements about future revenue and
revenue growth, 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:
EDO Corporation
William A. Walkowiak, CFA
Director of Investor Relations
(212) 716-2038
ir@edocorp.com
SONARTECH ATLAS
Anna Wajzer
Corporate Communications Manaer
61294373499
anna@sonartech.com.au
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