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EDO TO SUPPORT NAVY'S UNMANNED SYSTEMS
NEW YORK - Oct. 8, 2007 - EDO Corporation (NYSE: EDO) has been awarded an $8 million contract to provide support services to the Naval Surface Warfare Center in Panama City, Fla. EDO will help refine prototype unmanned-system technologies for use in a variety of naval missions, including maritime surveillance and mine countermeasures.
Professional services to be provided under the five-year contract include acquisition program planning, test and evaluation, mission analysis, and logistics planning support.
"EDO has a depth of expertise at bringing emerging technologies from design concept to reality," said James M. Smith, EDO’s chief executive officer. "This includes decades of engineering and systems-development success in anti-submarine warfare, mine-sweeping, and sophisticated undersea-sensor technology. This expertise, combined with our operational experience with unmanned systems, makes EDO uniquely qualified to support the Navy in evaluating and effectively utilizing unmanned-vehicle technology."
EDO designs, manufactures, and provides support to 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.
With headquarters in New York, EDO Corporation (www.edocorp.com) employs 4,000 people worldwide. The company was founded in 1925 and had revenues of $715 million in 2006. On September 17, EDO announced that it has reached an agreement to be acquired by ITT Corporation by early 2008.
| Contacts: William A. Walkowiak, CFA Sara Banda |
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