U.S. Army Awards AeroVironment $5.1 Million Order for Switchblade Loitering Munition Systems and Services
• Order definitizes previously announced Switchblade Agile Munition Systems and services contract
• Adds to prior $4.9 million order for a total value of $10 million
MONROVIA, Calif., May 23, 2012—AeroVironment, Inc. (NASDAQ: AVAV) announced it received a contract modification effective March 20, 2012 from the U.S. Army Close Combat Weapons Systems (CCWS), Program Executive Office Missiles and Space (PEO MS). The $5,108,160 modification to the existing contract includes engineering services, operational Switchblade systems and operator training. AeroVironment will work with ATK (NYSE: ATK), its munition subcontractor, to produce and deliver the systems.