NEW YORK, 13 Dec. 2007. The Department of Defense announced that EDO Corp. has received orders for 1,136 additional "CREW 2.1" vehicle-mounted electronic jammers, to be delivered by April 2008. This fixed-price award of $86.5 million is for the EDO model known as the CREW Vehicle Receiver/Jammer (CVRJ) system.
In making this award, the Naval Sea Systems Command and the Program Executive Office for Littoral and Mine Warfare exercised options included in the original contract competitively awarded to EDO on April 6. That contract includes options for up to 10,000 units, of which 8,736 have now been exercised.
On September 7, the Department of Defense announced its intention to award an additional contract with options for up to 15,000 CVRJ units. If awarded, this would bring the potential CVRJ units to 25,000.
In addition, on April 13, EDO received a contract for up to 10,000 units of its MMBJ (Mobile Multi-Band Jammer) version, of which 1,100 have been ordered to date.
On November 5, in connection with the pending merger of EDO with ITT Corp., EDO filed proxy materials containing financial projections through the year 2011. These projections included the estimated revenue for all 35,000 possible units described above. However, no guarantee can be made that the DoD will order all 35,000 units.
