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EDO RECEIVES ORDERS FOR FIGHTER-JET
TEST UNITS TOTALING $19.4 MILLION
NEW YORK - Sept. 21, 2006 - EDO Corporation (NYSE: EDO) has received recent contracts for a total of 273 AN/PLM-4 flight-line test units. The largest order was from the U.S. Air Force, plus certain foreign militaries and other prime contractors. The value of the combined orders is approximately $19.4 million, with delivery to be completed by July 2007.
The EDO AN/PLM-4 is a portable radar-signal simulator designed to test the radar-warning receivers onboard approximately 25 types of fighter jets and military aircraft. It has become the U.S. Air Force’s most effective way of testing the radar-warning systems before takeoff, as well as during routine maintenance. In addition to the flight-line version, the radar-signal simulator is available in configurations for laboratory, shipboard and vehicle testing.
"Pilots must be confident that their defensive electronics are fully functional before a mission. Our system gives them that assurance," said James M. Smith, EDO's chief executive officer. "As these benefits are recognized, our PLM-4, the standard for the U.S. Air Force, continues to expand its domestic and international customer base."
The AN/PLM-4 is significantly smaller and lighter than previously available equipment. It handles the full range of necessary tests in one self-contained package, a substantial benefit in an operating environment where speed is critical. Since this product line was introduced in 1998, EDO has now received orders for more than 950 systems in various configurations from both foreign and domestic customers. To date, more than 700 of these systems have been delivered.
EDO Corporation designs and manufactures a diverse range of products for defense, intelligence, and commercial markets. Major product groups include: Professional and Engineering Services, 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.
With headquarters in New York, EDO Corporation (www.edocorp.com) employs 4,200 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 revenue and
revenue growth, future earnings, and anticipated financing arrangements 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 |
| Sara Banda Media Relations (212) 716-2071 media@edocorp.com |
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