EDO Corp. Awarded $4.9 Million U.S. Air Force Contract.
NEW YORK--(BUSINESS WIRE)--Feb. 12, 2001
EDO Corp. (NYSE:EDO) today announced that it has been awarded a $4.9 million contract from the United States Air Force for 70 Field Test Simulator (FTS) test sets, to be delivered in the next fifteen months, including options for up to 890 units through 2005.
EDO's FTS test sets, which have been designated the AN/PLM-4 Radar Signal Simulator, replace the older AN/APM-427 as the primary flight line Radar Simulator for testing Electronic Warfare (EW) systems. The new FTS is a commercial-off-the-shelf design, which has been previously sold to the United States Department of Defense and to several other international defense customers. The test sets were designed by EDO Technical Services Operations and will be produced at its Lancaster, Calif., facility.
James M. Smith, president and chief executive officer of EDO Corp., said, "This is a significant award for the company and further solidifies our Technical Services Operations as a premier supplier of flight line EW systems test sets. We believe that this contract will generate additional orders from the Army and Navy to test ground, airborne and shipboard EW systems and will enable the company to increase foreign military sales of its EW systems products.
"EDO won this award based on its 50 years of EW design expertise acquired through the company's merger with the former AIL Systems Inc. We are particularly excited about this contract because it demonstrates the breadth of skills in the newly merged company and our ability to capture new business in a broad range of defense-oriented markets worldwide," Smith added.
About EDO Corp.
EDO Corp. (www.edocorp.com) supplies highly engineered products for governments and industry worldwide, including advanced electronic, electromechanical and information systems and engineered materials, which are critical to the mission success of its customers. The company's Defense Segment provides integrated front-line war fighting systems, including radar countermeasure systems, aircraft weapons storage and release systems, airborne mine countermeasure systems and sonar systems. EDO's Space and Communication Segment addresses the needs of the remote sensing, communication, navigation and electronic warfare industries with ultra-miniature electronics and a very broad line of antennas. The company's Engineered Materials Segment supplies piezoelectric and advanced composites for the communication, navigation, chemical, petrochemical, paper and oil industries, for civilian infrastructure and for the military.
The statements contained in this release that are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, demand and competition for the company's products, and other risks or uncertainties detailed in the company's Securities and Exchange Commission filings.
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|Date:||Feb 12, 2001|
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