AeroVironment Receives $7.2 Million Order for Digital Puma Systems and Training Services
October 26, 2010
WASHINGTON, at AUSA, Oct. 26, 2010 -- AeroVironment, Inc. (AV) (NASDAQ:AVAV) announced today that it has received a contract delivery order valued at $7,231,440 for new digital Puma® All Environment (AE) unmanned aircraft systems (UAS) and training services. The items were procured under an existing United States Special Operations Command (USSOCOM) All Environment Capable Variant (AECV) indefinite delivery/indefinite quantity (IDIQ) contract.
This order follows two recently announced orders procured under the same contract. On August 31, 2010, AV announced an order valued at $35,265,662 for digital Puma systems, spares and training services. On September 8, 2010, AV announced an additional order valued at $4,398,000 for Puma payloads and retrofits. Work is scheduled to be performed within a period of several months.
USSOCOM selected the Puma UAS in 2008 for its AECV program after a full and open competition, the fourth U.S. Department of Defense competition for programs of record involving small UAS and the fourth such competition won by AV. Each Puma system consists of three air vehicles and two ground control systems. The air vehicle carries an integrated electro-optical and infrared gimbaled video camera, is designed for enhanced survivability in land and maritime environments, and can operate effectively in foul weather and over rugged terrain. Its quiet operation, stabilized imagery and precision landing capability make Puma systems easy to operate and recover. The Puma air vehicle weighs 13 pounds, is battery powered and has a flight endurance of two hours.
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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