Friday, July 27, 2007
NEW YORK, Jul. 27, 2007 (Business Wire) -- EDO Corporation (NYSE: EDO) has received a contract award from Lockheed Martin (NYSE: LMT) for logistics services supporting the Crane Division of the Naval Surface Warfare Center. The base period carries a value of $4 million with potential award-term revenue of $6 million.
EDO is one of a select group of companies chosen by Lockheed Martin to help the Navy reduce costs and promote business efficiencies while providing various engineering, logistics, technical, financial, and program management services to support Crane's Surface Warfare Center. Lockheed Martin will support the Navy's radar depot antenna system maintenance and microwave solid state devices programs. It will also provide sustainment engineering work related to current Navy radar programs and assist in developing logistics plans and provide support for development of a strategic logistics roadmap for the Navy.
EDO's role is to provide acquisition and logistics professional services to the Naval Sea Systems Command (NAVSEA) Amphibious Warfare Program Office (PMS377) for large-deck amphibious ships such as the Landing Helicopter Dock (LHD-8), Landing Helicopter Assault (LHA-6), and the Landing Craft Air Cushion (LCAC), as well as the Amphibious Assault Direction System (AADS) program.
Services include planning and implementation of logistics support requirements, maintenance planning, provisioning support, configuration management, technical documentation review and contract-data requirements management. The program will include support of future amphibious-ship acquisitions.
'We are expanding our support of maritime applications at the ship platform and system level,' said James M. Smith, EDO's chief executive officer. 'Our services to PMS377 build upon our substantial Navy and Coast Guard experience in managing the acquisition logistics that are crucial for shipbuilding and boat construction.'
EDO Corporation designs and manufactures a diverse range of products for aerospace, defense, intelligence, and commercial markets. Major product groups include: Professional and Engineering Services, 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.
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
With headquarters in New York, EDO Corporation (www.edocorp.com) employs 4,000 people worldwide. The company was founded in 1925 and had revenues of $715 million in 2006.
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