EDO wins navy fleet support contract with ceiling of $107.7 million.

EDO Corporation (NYSE:EDO) has been awarded a contract from the U.S. Navy's Space and Warfare Systems Command (SPAWAR) in San Diego. The indefinite-delivery/indefinite-quantity (IDIQ) contract has a base year plus four option years, and a ceiling of $107.7 million.

The purpose of this contract is to provide fleet support worldwide for existing and planned Command, Control, Computer, Communications and Intelligence (C4I) systems fielded by SPAWAR, both afloat and ashore. This contract also requires support for rapid injection of new technologies into Navy ships while underway.

The cost-plus-fixed-fee contract was won through competitive bidding by EDO's Darlington business unit, which was acquired in March and has been consolidated into EDO's Combat Systems Division. The company has been providing similar support under previous contracts, through its Fleet System Engineering Team (FSET), since 1999. This FSET support includes highly-skilled engineers and technicians that serve at shore stations as well as aboard active-duty ships.

"The quality of service provided by our FSET members is the fundamental reason for this latest win," said James M. Smith, EDO's chief executive officer. "Our track record of maintaining reliable, worldwide fleet communications under live-combat situations has proven the value of outsourcing these complex, specialized functions. This is our largest FSET contract ever, and we look forward to shouldering the increasing level of responsibilities."

EDO Corporation provides military products and professional services to the United States and 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 a lighter, faster, and smarter national defense capability.

EDO (www.edocorp.com) was founded in 1925, and is headquartered in New York City. The company expects 2003 revenues to exceed $460 million, and employs 2,800 people.%