EDO Corp. Receives $17.4 Million BRU-57 Smart Bomb Rack Contract From U.S. Air Force.Business Editors & Defense Writers NEW YORK--(BUSINESS WIRE)--July 23, 2001 EDO Edo: see Tokyo, Japan. Corp. (NYSE NYSE See: New York Stock Exchange :EDO) today announced receipt of a $17.4 million contract for continued production of BRU-57 "Smart" Bomb Rack bomb rack n. A framework or mechanical holder for bombs on a combat aircraft. Noun 1. bomb rack - a device on an aircraft for carrying bombs bomber - a military aircraft that drops bombs during flight Units for the F-16 Falcon from the U.S. Air Force Armament Center at Eglin Air Force Base Eglin Air Force Base is the home of the United States Air Force 96th Air Base Wing of the Air Force Materiel Command, and is also headquarters for more than 45 associate units. , Fla. The BRU-57 Smart Bomb Rack increases the Falcon's mission effectiveness by doubling the aircraft's smart munitions mu·ni·tion n. War materiel, especially weapons and ammunition. Often used in the plural. tr.v. mu·ni·tioned, mu·ni·tion·ing, mu·ni·tions To supply with munitions. load-carrying capability. EDO believes that a number of the more than 4,000 F-16 aircraft produced or on order, many in foreign countries, are candidates for the BRU-57 upgrade. Contract work will be performed by EDO Marine and Aircraft Systems in Amityville, N.Y., and EDO M. Tech in Huntingdon Valley, Pa. Production deliveries will extend into 2004. James M. Smith, EDO's chief executive officer, stated: "A major component of EDO's core business is the design, development and provision of state-of-the-art aircraft armament systems. Our investment in research and development has enabled us to secure EDO's continuing leadership position supplying advanced armament products for existing and future aircraft platforms." About EDO Corp. EDO Corp. (www.edocorp.com) supplies highly engineered products for governments and industry worldwide, including advanced electronic, electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). and information systems and engineered materials 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, sonar systems and a full range of professional engineering and information technology services. EDO's Space and Communication Segment addresses the needs of the remote sensing, communication, navigation and electronic warfare industries with ultraminiature ul·tra·min·i·a·ture adj. Subminiature. ul  tra·min electronics and a broad line of antennas. The company's Engineered Materials Segment supplies piezoelectric The property of certain crystals that causes them to produce voltage when a mechanical pressure is applied to them such as sound vibrations. This technique is used to build crystal microphones, phonograph cartridges and strain gauges, all of which turn mechanical movement into voltage. and advanced composites for the communication, navigation, chemical, petrochemical, paper and oil industries, for civilian infrastructure and military applications. Forward-Looking Statements This news release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 because of numerous factors, including those described above and the following: changes in demand for the company's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, difficulties encountered in the integration of acquired businesses, 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 Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. , 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. |
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