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L-3 COMMUNICATIONS TO PROVIDE CRASH RECORDER FOR F-35 JOINT STRIKE FIGHTER
New York, NY, May 26, 2004 – L-3 Communications (NYSE: LLL) announced today that its subsidiary, Electrodynamics, Inc., has been selected by Lockheed Martin Aeronautics Company, Fort Worth, TX, to design and manufacture a state-of-the-art Crash Survivable Memory Unit (CSMU) for the F-35 Joint Strike Fighter.
Electrodynamics has partnered with Aydin Yazilim ve Elektronik Sanayi, a high technology software and electronics company based in Ankara, Turkey, on this important international program.
The System Development and Demonstration (SDD) phase of this contract will start immediately and be completed in 2005. It is expected to be followed by Low Rate Initial Production (LRIP) in 2007 and Full Rate Production (FRP) in 2012. With an estimate of over 2,500 aircraft to be built for the U.S. and its international partners, the value of the program to L-3 Communications could be as much as $40 million.
“We are very pleased by Lockheed Martin’s decision to select us as the CSMU supplier for the F-35,” said Donald Spetter, president of Electrodynamics. “Their selection reinforces our position as the market leader for crash protected memory and we are excited to be part of the Lockheed Martin team.”
Based in Rolling Meadows, IL. Electrodynamics, Inc., a wholly-owned subsidiary of L-3 Communications, has been a major supplier of Flight Data Recorders and Crash Survivable Memory Units for tactical military aircraft including the Lockheed Martin F/A-22, the Saab JAS-39, the B-1B and B-2 bombers, and the Boeing T-45 Goshawk.
Headquartered in New York City, L-3 Communications is a leading provider of Intelligence, Surveillance and Reconnaissance (ISR) systems, secure communications systems, aircraft modernization, training and government services and is a merchant supplier of a broad array of high technology products. Its customers include the Department of Defence, Department of Homeland Security, selected U.S. Government intelligence agencies and aerospace prime contractors.
To learn more about L-3 Communications, please visit the company’s web site at www.l-3com.com.
SAFE HARBOUR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbour Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
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