AeroVironment Receives $23.9 Million Order For Army & Marine Corps Digital Raven Systems And Kits
December 21, 2009
MONROVIA, Calif., Dec. 21, 2009 -- AeroVironment, Inc. (AV) (NASDAQ:AVAV) today announced that it received a $23,926,917 firm fixed-price order under an existing contract. This contract modification comprises digital Raven systems and kits to upgrade existing analog Raven® systems currently being used by the U.S. Army and U.S. Marine Corps with AV's digital data link.
"We began deliveries of digital Raven systems at the end of October, and are increasing production in response to customer demand," said John Grabowsky, AV executive vice president and general manager of Unmanned Aircraft Systems. "Our digital data link uses the frequency spectrum allocated to small UAS much more efficiently than the analog link it replaces. As a result, digital Raven systems allow our customers to increase significantly the number of Raven air vehicles that can be used in a given area, as well as provide greater communication security through signal encryption, and enable valuable new capabilities such as beyond line-of-site operation. Digital Raven systems will directly benefit ground forces by helping them operate more effectively and safely, wherever and whenever they need them. "Full funding for this contract modification was provided by a United States Department of Defense supplemental funding bill. The total potential value of this order is $66.6 million, of which $42.7 million is not yet funded but has been added to the maximum potential value of the contract supporting this program.
The Raven unmanned aircraft 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. armed forces use Raven systems 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 thousands of 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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