EDO Edo Corp

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.