EDO Receives $3.2 Million Contract for Professional Services.NEW YORK -- EDO Corporation (NYSE NYSE See: New York Stock Exchange : EDO Edo: see Tokyo, Japan. ) has been awarded a contract by the Office of Naval Research The U.S. Office of Naval Research (ONR), headquartered in Arlington, Virginia (Ballston), is the office within the U.S. Department of the Navy that coordinates, executes, and promotes the science and technology programs of the U.S. (ONR) valued at up to $3.2 million to provide engineering services and program support. The cost plus fixed-fee contract includes a one-year base with four one-year option periods. The Office of Naval Research coordinates the science and technology programs of the United States Navy United States Navy Major branch of the U.S. military forces, charged with defending the nation at sea and maintaining security on the seas wherever U.S. interests extend. The Continental Navy was established by the Continental Congress in 1775. and Marine Corps. EDO will support ONR on a number of programs that will demonstrate high-speed flight capabilities and performance of expendable supersonic vehicles. Services will include program planning, coordination, and tracking at seven research sites. EDO will also participate in milestone meetings and assist in the daily program coordination between ONR, the Office of the Secretary of Defense The Office of the Secretary of Defense (OSD) is part of the United States Department of Defense and includes the entire staff of the Secretary of Defense. It is the principal staff element of the Secretary of Defense in the exercise of policy development, planning, resource , Naval Air Systems Command The Naval Air Systems Command, or NAVAIR, is the part of the United States Navy which provides materiel support for naval aircraft and airborne weapon systems, such as guided missiles. NAVAIR was established in 1966 as the successor to the Navy's Bureau of Naval Weapons (BuWeps). , NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. , and the Air Force. "Our independent expertise on such high-technology programs serves a valuable role in coordinating multi-service efforts," said James M. Smith, EDO's chief executive officer. "These programs will demonstrate a range of advanced technologies related to supersonic aerodynamics, high-temperature materials, and high-speed turbine-engine propulsion systems." The programs to be supported under this contract include the RATTLRS RATTLRS Revolutionary Approach to Time-Critical Long Range Strike (Revolutionary Approach to Time-Critical Long Range Strike) flight-demonstration program. EDO will assist in the technical evaluation and assessment of RATTLRS and other high-speed related programs in the areas of weapons system traceability, systems integration and effectiveness assessments. EDO Corporation designs and manufactures a diverse range of products for the defense industry and commercial markets, and provides related engineering and professional services. Major product groups include: Defense Electronics, Communications, Aircraft Armament, Undersea Warfare, and Integrated Composite Structures. EDO's advanced systems are at the core of the transformation to lighter, faster, and smarter defense capabilities. EDO (www.edocorp.com) was founded in 1925 and is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . The company employs 2,500 people and had revenues of $536 million in 2004. 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 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 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. |
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