AeroVironment Awarded $41.7 Million Contract Option for Raven® Small Unmanned Aircraft Systems and Support Services
February 04, 2009
MONROVIA, Calif., Feb. 4, 2009 - AeroVironment, Inc. (AV) (NASDAQ: AVAV) today announced that the U.S. Army has ordered additional RQ-11B Raven® small unmanned aircraft systems (UAS) and associated services for its fiscal year 2009 requirements by the exercise of an option under an existing contract. Each Raven® system typically consists of three aircraft, two ground control stations, and spares. The aggregate order value is $41.7 million and is fully funded.
The award was released under the existing U.S. Army joint small UAS program of record for AV's Raven® system and will provide systems, spares and services for the Army and Marine Corps. This program allows for contract additions from the Army, Marine Corps, Special Operations Command and other U.S. military services. The items and services provided under this award on this multi-year contract are scheduled to be delivered over the next 12 months.
"We are pleased to support the Army and Marine Corps' ongoing, multi-year programs of record for small UAS as they continue to deploy this valuable capability throughout their force structures," said John Grabowsky, AV executive vice president and general manager of unmanned aircraft systems. "We remain committed to ensuring that wherever U.S. ground forces operate, our Raven® systems reliably help them perform their missions more effectively and more safely."
AV's Raven® system is a 4.2-pound, backpackable, hand-launched sensor platform that provides day and night, real-time video imagery for "over the hill" and "around the corner" reconnaissance, surveillance and target acquisition in support of tactical units. U.S. and allied armed forces use Ravens extensively for missions such as base security, route reconnaissance, mission planning and force protection.
In addition to the Raven® system, AV's small UAS include Puma AE® and Wasp®, which are also hand-launched and controlled by AV's hand-held ground control station. Each aircraft in AV's family of small UAS is interoperable and tailored to address a variety of operational user needs. AV's UAS logistics operation supports systems deployed worldwide to ensure a consistently high level of operational readiness. AV has delivered more than 11,000 small unmanned aircraft to date. International purchasers of Raven® systems include Italy, Denmark, the Netherlands and Spain.
About AeroVironment, Inc. (AV)
AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information visit www.avinc.com.
Safe Harbor Statement
Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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