AeroVironment, Inc. Receives $11.5 Million Order for Digital Puma Systems and Training Service
April 21, 2011
- Puma demonstrating effectiveness in theater
- Order includes systems, initial spares and training services
MONROVIA, Calif., April 21, 2011 -- AeroVironment, Inc. (NASDAQ:AVAV) today announced that it received a firm-fixed-price contract delivery order valued at $11,500,000 for new digital Puma‚ All Environment (AE) unmanned aircraft systems (UAS), initial spares packages and training services on April 11, 2011. The items were procured under the existing United States Special Operations Command (USSOCOM) All Environment Capable Variant (AECV) indefinite delivery/indefinite quantity (IDIQ) contract. Deliveries are scheduled to be completed over the next several months.
“Puma is already making a difference in the field. Our customers cite the quality of its imagery and its overall usefulness, which they say make Puma instrumental in saving lives,” said Tom Herring, AeroVironment senior vice president and general manager of its Unmanned Aircraft Systems business segment. “We see more opportunities ahead for Puma to help our customers where and when they need it.”
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 AeroVironment. Each Puma system consists of three air vehicles and two ground control systems. The air vehicle carries an integrated electro-optical and an infrared gimbaled video payload, is designed for enhanced durability 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’s Small UAS
Raven®, Wasp and Puma‚ comprise AeroVironment’s Family of Small Unmanned Aircraft Systems. Operating with a common ground control system (GCS), this Family of Systems provides increased capability to the warfighter that will give ground commanders the option of selecting the appropriate aircraft based on the type of mission to be performed. This increased capability has the potential to significantly enhance force protection and force multiplication for small tactical units. AeroVironment’s UAS logistics operation supports systems deployed worldwide to ensure a consistently high level of operational readiness. AeroVironment has delivered thousands of new and replacement small unmanned air vehicles to date. International purchasers of AeroVironment’s small UAS include the armed forces of Italy, Denmark, the Netherlands, Spain, France, Norway, the Czech Republic, Thailand and Australia.
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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