EDO Edo Corp

EDO Corporation (NYSE: EDO) has been awarded a five-year contract to provide the U.S. Navy with support and maintenance of airborne mine-countermeasure systems. The $25.2 million indefinite-delivery/indefinite-quantity contract supports the Naval Surface Warfare Center in Panama City, Fla. Work covered by this contract includes engineering design, in-service engineering, and depot maintenance and repair for a range of littoral and deep-water mine-countermeasure systems. These include systems developed by EDO, such as the MK 105 and OASIS (Organic Airborne and Surface Influence Sweep) systems, the Sea Fox neutralizer vehicle developed by the German firm ATLAS Elektronik, and other mine-countermeasure legacy systems. "We are pleased that our initiative to establish a Center of Excellence in Panama City has led to this major contract," said Chief Executive Officer James M. Smith. "Our expertise in mine countermeasures extends back to the 1960's with the development of the MK 105 minesweeping system, which remains one of the Navy's most effective tools for protecting ships against mine warfare. We welcome this opportunity to apply our engineering expertise across a broad range of mine countermeasures for the Navy." EDO Corporation designs and manufactures a diverse range of products for defense, intelligence, and commercial markets, and provides related engineering and professional services. EDO's major product sectors include: Defense Electronics, Communications, Aircraft Armament Systems, Undersea Warfare, and Integrated Composite Structures. The company's advanced systems are at the core of the transformation to lighter, faster, and smarter defense capabilities. With headquarters in New York, EDO Corporation employs 3,000 people worldwide. The company was founded in 1925 and had revenues of $648 million in 2005.