Integrated Defense Plans $136.5-Million IPO

IPO investors can welcome the brave new, post-Sept. 11 world by buying shares of a company that makes surface-threat electronic warfare systems and command-destruct transmitters.

Integrated Defense Technologies Inc., a defense electronics company, plans a $136.5-million initial public offering for Tuesday that will benefit from heightened interest in all things military as well as from an absence of other IPOs. Integrated Defense “looks like a very solid company,” said Adam Friedman, senior portfolio manager for the Armada Large and Small Cap Value Funds, which have $1.5 billion of assets.

The Huntsville, Ala., company makes electronic combat systems, diagnostic and power systems, and communications and surveillance systems that are used in fighter aircraft, naval vessels and combat vehicles.

Revenue grew to $264 million in 2001 from $102.2 million in 1999; the company earned a small profit in 2001 and 2000.

Credit Suisse First Boston is leading underwriter in the IPO. Integrated Defense plans to trade on the New York Stock Exchange with the proposed symbol IDE.