E D O (NYSE:EDO)
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EDO Corporation (NYSE: EDO) has received a contract from
Lockheed Martin (NYSE: LMT) valued at $11.7 million for seven maritime
patrol radar systems, including a production spare plus repair
modules. The radar systems will be installed on C-130J aircraft that
are being upgraded by Lockheed Martin under the U.S. Coast Guard's
Integrated Deepwater System.
"EDO has been an innovator in radar surveillance systems since
World War II," said EDO Chief Executive Officer James M. Smith. "This
contract adds to our successful range of business relationships with
Lockheed Martin, as well as the U.S. Coast Guard. The Deepwater
subcontract also puts us in a strong position, teamed with Lockheed
Martin, to compete for radar systems on additional platforms."
Deepwater is a multi-year, multi-billion dollar program to
modernize and replace the Coast Guard's aging ships and aircraft and
improve command and control and logistics systems. It is the largest
recapitalization effort in the history of the Coast Guard.
In addition to this subcontract, EDO is also providing the Radio
Frequency Distribution System (RFDS) for up to 90 Coast Guard vessels.
RFDS will enable interference-free transmission among the various
communications systems aboard each ship. EDO's technology mitigates
interference from other radio signals in adjacent channels.
EDO Corporation designs and manufactures a diverse range of
products for defense, intelligence, and commercial markets, and
provides related engineering and professional services.
Major product groups include: Defense Electronics, Communications,
Aircraft Armament Systems, Undersea Warfare, and Integrated Composite
Structures. EDO's advanced systems are at the core of the
transformation to lighter, faster, and smarter defense capabilities.
With headquarters in New York, EDO Corporation (www.edocorp.com)
employs 3,000 people worldwide. The company was founded in 1925 and
had revenues of $648 million in 2005.