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EDO WILL PROVIDE SERVICES TO UK ROYAL AIR FORCE AND ROYAL NAVY
NEW YORK - August 21, 2006 - EDO Corporation (NYSE: EDO) has received a long-term support contract from the United Kingdom Ministry of Defence. Under the terms of the contract, EDO will provide technical support, repair, and procurement services for all Royal Air Force and Royal Navy aircraft stores carriage-and-release systems and associated ancillary equipment.
The rapid support-supply contract, known as Pillar 3, is valued between $20 and $30 million over the next five years.
"This is EDO’s first major service-related contract in the U.K. and represents a significant growth area with future expansion opportunity," said James M. Smith, EDO’s chief executive officer. "This is an example of how we are combining our depth of engineering capability, product knowledge, and robust management systems to offer related professional services and to ensure future military mission readiness."
EDO will work directly with the Air Launched Munitions Integrated Project Team. The project team oversees in-service logistics support that is needed to meet the operational and airworthiness requirements for all in-service air-launched munitions and associated equipment within the military services.
EDO is the market leader in sophisticated aircraft-armament carriage-and-release systems. For decades, EDO has provided such equipment for the world’s dominant jet fighters, and is currently developing systems for future aircraft, including the F-35 Joint Strike Fighter, as well as unmanned aircraft.
EDO designs and manufactures a diverse range of products for defense, intelligence, and commercial markets. Major product groups include: Defense Electronics, Communications, Aircraft Armament Systems, Undersea Warfare, Integrated Composite Structures, and Professional and Engineering Services.
With headquarters in New York, EDO (www.edocorp.com) employs 3,000 people worldwide. The company was founded in 1925 and had revenues of $648 million in 2005.
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.
| Contacts: |
| William A. Walkowiak, CFA Director of Investor Relations (212) 716-2038 ir@edocorp.com |
Nick Guard
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| Sara Banda Media Relations (212) 716-2071 media@edocorp.com |
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