EDO Receives $9.9 Million Contract for Advanced Electronics on the Navy's P-3C Orion.
NEW YORK--(BUSINESS WIRE)--Dec. 3, 2003
EDO Corporation (NYSE: EDO) has been awarded a $9.9 million contract by Lockheed Martin (NYSE: LMT) to develop an enhanced Electronic Support Measures (ESM) sensor capability for the U.S. Navy's P-3C Orion maritime surveillance aircraft.
Designated the ALR-95(V)3 in military nomenclature, the sensor system will be based on a new receiver having a Digital Instantaneous Frequency Measurement (DIFM) capability. This technology will improve the P-3C's performance even in the most dense and threatening electronic environments. It will be effective against modern frequency-agile radars, and significantly improve signal identification and accuracy in locating the emitter of interest.
"EDO continues to drive innovation in electronic support measures," said James M. Smith, EDO's chief executive officer. "Our ability to deliver the most advanced capabilities for air, land, and sea-based platforms is the basis of our continued leadership in this technology. Our objective is to strengthen this leadership position by developing the next generation of ESM products for use on military as well as Homeland Security platforms."
Lockheed Martin has awarded the contract to EDO's Reconnaissance and Surveillance Systems business unit, located in Morgan Hill, Calif. The RSS unit is a world leader in the design and manufacture of ESM integrated systems and related technology, such as receivers, signal processors, digitizers, and signal-analysis software.
EDO Corporation provides military products and professional services to the US, UK, and other allied governments, and their prime defense contractors. EDO focuses on systems and subsystems that are integral to the success of long-term military platforms, such as the B-1B bomber, the F/A-22, the Joint Strike Fighter, and the Comanche helicopter. Examples of the company's highly engineered products include aircraft weapon-release systems, ship and aircraft self-protect systems, and high-performance composite structures. The company also has a number of commercial product lines. A disciplined acquisition program is diversifying the base of major platforms and customers. EDO is 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. The company had revenues last year of $329 million, and employs 2,800 people.
Note to editors: A photo of the P-3C Orion is available at the following address:
Certain statements made in this release, including statements about future revenue, 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.
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|Date:||Dec 3, 2003|
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