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AeroVironment Receives $23.9 Million Order For Army & Marine Corps Digital Raven Systems And Kits
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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)
Building on a history of technological innovation, AV designs, develops, produces, and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and efficient electric energy systems. Agencies of the U.S. Department of Defense and allied military services use the company's hand-launched UAS to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance, and target acquisition. Commercial and government entities use AV's clean transportation solutions such as power cycling and test systems and electric vehicle fast charge systems. More information about AV is available at 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, 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.
Additional AV News: http://www.avinc.com/resources/news
AV Media Gallery: http://www.avinc.com/media_gallery
Contact:
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
pr@avinc.com
Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
mark@boyersyn.com
# # #
About AeroVironment, Inc. (AV)
AeroVironment is a technology solutions provider that designs, develops, produces and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and electric transportation solutions. Agencies of the U.S. Department of Defense and allied military services use the company?s electric-powered, hand-launched unmanned aircraft systems extensively to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance and communication. Multiple government agencies have helped to fund the development and demonstration of Global Observer, a hybrid-electric, stratospheric UAS designed to provide affordable, persistent reconnaissance and communication over any location on the globe. Switchblade is a loitering munition designed to provide a rapid, lethal, pinpoint precision strike capability with minimal collateral damage. AeroVironment?s electric transportation solutions include a comprehensive suite of electric vehicle (EV) charging systems, installation and data services for consumers, automakers, utilities and government agencies, power cycling and test systems for EV developers and industrial electric vehicle charging systems for commercial fleets.
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.
###
Additional AV News: http://www.avinc.com/resources/news
AV Media Gallery: http://www.avinc.com/media_gallery
Contact:
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
.(JavaScript must be enabled to view this email address)
Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
.(JavaScript must be enabled to view this email address)
"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)
Building on a history of technological innovation, AV designs, develops, produces, and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and efficient electric energy systems. Agencies of the U.S. Department of Defense and allied military services use the company's hand-launched UAS to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance, and target acquisition. Commercial and government entities use AV's clean transportation solutions such as power cycling and test systems and electric vehicle fast charge systems. More information about AV is available at 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, 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.
Additional AV News: http://www.avinc.com/resources/news
AV Media Gallery: http://www.avinc.com/media_gallery
Contact:
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
pr@avinc.com
Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
mark@boyersyn.com
# # #
About AeroVironment, Inc. (AV)
AeroVironment is a technology solutions provider that designs, develops, produces and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and electric transportation solutions. Agencies of the U.S. Department of Defense and allied military services use the company?s electric-powered, hand-launched unmanned aircraft systems extensively to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance and communication. Multiple government agencies have helped to fund the development and demonstration of Global Observer, a hybrid-electric, stratospheric UAS designed to provide affordable, persistent reconnaissance and communication over any location on the globe. Switchblade is a loitering munition designed to provide a rapid, lethal, pinpoint precision strike capability with minimal collateral damage. AeroVironment?s electric transportation solutions include a comprehensive suite of electric vehicle (EV) charging systems, installation and data services for consumers, automakers, utilities and government agencies, power cycling and test systems for EV developers and industrial electric vehicle charging systems for commercial fleets.
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.
###
Additional AV News: http://www.avinc.com/resources/news
AV Media Gallery: http://www.avinc.com/media_gallery
Contact:
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
.(JavaScript must be enabled to view this email address)
Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
.(JavaScript must be enabled to view this email address)
