AeroVironment, Inc. Receives $14.8 Million Order for Digital Raven® Retrofit Kits
April 12, 2011
MONROVIA, Calif., April 12, 2011 -- AeroVironment, Inc. (NASDAQ:AVAV) announced that it received a firm-fixed-price contract order valued at $14,773,816 under an existing contract with the U.S. Army. The order comprises digital Raven® small unmanned aircraft systems (UAS) retrofit kits. Work is scheduled to be completed by December 2011.
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. Each Raven system typically consists of three aircraft, two ground control stations and spares.
In addition to the Raven system, AeroVironment's small UAS include Puma™ and Wasp™, which are also hand-launched and controlled by AeroVironment's hand-held ground control station. Each aircraft in AeroVironment's family of small UAS is interoperable and tailored to address a variety of operational user needs. AeroVironment's UAS logistics operation supports systems deployed worldwide to ensure a consistently high level of operational readiness. AeroVironment has delivered thousands of small unmanned aircraft to date. International purchasers of Raven systems include Italy, Denmark, the Netherlands, Spain and Norway.
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.
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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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