Neville did you see the recent press release for EDO. Its looking like they will continue to grow.
COLLEGE POINT, NY - FEBRUARY 6, 1997- EDO Corporation (NYSE:EDO) today announced that it has been awarded, through its EDO Electro-Optics wholly-owned subsidiary, a $7.6 million initial contract from Boeing, with options valued at $20.4 million, excercisable through 2012. The contract calls for the production of infrared Earth sensors for the Navstar Global Positioning System (GPS) Block IIF satellites.
EDO's modified and enhanced Earth sensors will be utilized by Boeing Defense & Space Group for the upcoming GPS Block IIF satellite constellation, which provides precise navigation data to military and civilian users in any weather condition anywhere in the world. EDO has been a member of the GPS team since the program's inception in the early 1970s and has previously supplied Earth sensors to Boeing North American's Space Systems Division for use on their GPS Block II/IIA programs.
Frank A. Fariello, Chairman, President and Chief Executive Officer of EDO Corporation, stated: "We are extremely pleased to continue to supply Earth sensors to Boeing for the next-generation GPS Block IIF effort. This award recognizes our commitment to supply sensors with excellent performance and reliability to major satellite prime contractors such as Boeing. This important award extends our already significant share of the satellite Earth sensor market."
Boeing North American, Inc., a wholly owned subsidiary of The Boeing Company, has annual sales of approximately $3 billion. It consists of five products divisions that are world leaders in human space systems; space power and propulsion; satellites; missile defense systems; aircraft and aerostructures; aircraft modernization; guidance and navigation; command, control and communications; ship systems; tactical missiles; and sensors.
EDO Electro-Optics is a leading supplier of infrared Earth horizon sensors for spacecraft attitude control and commercial electro-optical instrumentation.
EDO is principally a supplier of proprietary advanced electro-optical, electronic, mechanical, acoustic and composite products to major prime defense contractors and commercial original equipment manufactures. EDO also serves the domestic and international defense markets as a prime contractor for military systems. |
