UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): June 30, 2008
AEROVIRONMENT,
INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-33261
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95-2705790
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(State
or other jurisdiction of incorporation or organization)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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______________________
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181 W. Huntington
Drive, Suite 202
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Monrovia,
CA
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91016
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s telephone number,
including area code: (626) 357-9983
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange ct (17 CFR
240.14d-2(B))
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Pre-commencement
communications pursuant to Rule 13e-4(c)) under the Exchange Act (17 CFR
240.13e-4c))
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Item 1.01
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Entry
into a Material Definitive
Agreement.
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On June
30, 2008, the United States Special Operations Command, or USSOCOM, awarded
AeroVironment, Inc. an indefinite delivery/indefinite quantity (IDIQ) contract
for All Environment Capable Variant (AECV) Small Unmanned Aircraft
Systems, with a maximum potential value of $200,000,000. The
systems consist of AeroVironment’s Puma AE aircraft, ground control
systems, spares, repairs and training.
The
initial one-year contract provides for four additional one-year option periods,
and is expected to be funded under a combination firm,
fixed-price, cost-plus-fixed-fee and cost-reimbursable
arrangement. The initial order under the contract provides for
the delivery of aircraft, ground control systems, initial spare parts, training,
shipping and travel and is valued and fully funded at $6,002,654. As this
is an IDIQ contract, USSOCOM has no obligation to buy additional products or
services under this contract beyond the initial order.
On July
2, 2008, AeroVironment, Inc. issued a press release announcing the award. The
press release is furnished at Exhibit 99.1 and is incorporated herein by
reference.
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Item 7.01
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Regulation
FD Disclosure
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On July
2, 2008, AeroVironment,
Inc. issued a press release announcing the contract with
USSOCOM. A copy of the press release is attached hereto as Exhibit
99.1. The information contained in Item 7.01 of this Current Report,
including Exhibit 99.1, is being furnished and shall not be deemed “filed” for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to
the liabilities of that section. Such information shall not be
incorporated by reference into any filing of AV, whether made before or after
the date hereof, regardless of any general incorporation language in such
filing.
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Item
9.01
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Financial
Statements and Exhibits
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(d) Exhibits.
Exhibit
Number Description
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99.1
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Press
release issued by AeroVironment, Inc., dated July 2,
2008.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
AEROVIRONMENT,
INC.
Date: July
2,
2008 By:
; /s/ Timothy E. Conver
Timothy
E. Conver
Chairman, President and Chief Executive Officer
181 W. Huntington
Drive, Suite 202, Monrovia, CA 91016
Telephone (626)
357-9983 ▪ Fax (626) 359-9628
www.avinc.com ▪ NASDAQ: AVAV
PRESS
RELEASE
AeroVironment
Awarded U.S. Special Operations Command All Environment Capable Variant Small
UAS Contract
MONROVIA, Calif.,
July
2, 2008
– AeroVironment,
Inc. (AV)
(NASDAQ: AVAV) today announced the U.S. Special Operations Command (USSOCOM)
has selected Puma AE as
its All Environment Capable Variant (AECV) solution to the Small
Unmanned Aircraft System (UAS) requirement. The one-year Indefinite
Delivery Indefinite Quantity (IDIQ) contract, with four one-year options, has a
maximum value of $200,000,000, and provides for the purchase of aircraft, ground
control systems, spares, repairs and training under a combination firm
fixed-price, cost-plus-fixed-fee and cost reimbursable
arrangement. The initial delivery order is valued at $6 million and
is fully funded.
The
hand-launched Puma AE lands near-vertically on both land and water and is
equipped with a day- and night-capable, waterproof sensor package that provides
image tracking, image stabilization and high-image quality. Puma AE
systems incorporate the same hand-held Ground Control Unit used by U.S.
Department of Defense and allied military customers to control Raven and
Wasp systems. Ship-based use of Puma AE requires no modification
to naval vessels, enabling easy integration into maritime
operations. The AECV program represents the fourth U.S. Department of
Defense full and open competition for a small UAS program of record, and the
fourth such competition won by AV.
“AV
responded to a USSOCOM requirement for a hand-launched UAS. We are
pleased to be chosen to deliver these capabilities into the hands of
warfighters with a new, more capable third generation version of our Puma,” said
John Grabowsky, AV executive vice president and general manager of unmanned
aircraft systems. “Puma AE joins Raven and Wasp in AV’s product
portfolio,
delivering a powerful new solution for land and ship-based, over-the-horizon
intelligence, surveillance and reconnaissance,” Grabowsky added.
U.S.
armed forces including the Army, Marine Corps, Air Force and USSOCOM, as well as
international forces such as those of Italy, Denmark, Spain and the Netherlands,
use AV’s hand-launched UAS for missions that include base security, route
reconnaissance, mission planning, battle damage assessment and
force protection. The U.S. Army has reported that Army Raven UAS
were flown for approximately 150,000 combat hours in 2007. AV
has delivered more than 10,000 small unmanned aircraft to date, including Raven,
Wasp and Puma.
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. The company's small UAS are used extensively
by agencies of the U.S. Department of Defense and increasingly by allied
military services to provide situational awareness to tactical operating units
through real-time, airborne reconnaissance, surveillance, and target
acquisition. AV’s Posicharge® fast
charge systems eliminate battery changing for electric industrial vehicles in
factories, airports, and distribution centers. 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, 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/News.asp
AV Media Gallery: http://www.avinc.com/medi_gallery.asp
Contact:
AeroVironment,
Inc.
Steven
Gitlin
+1 (626)
357-9983
pr@avinc.com
Mark
Boyer
For
AeroVironment, Inc.
+1 (310)
455-7812
mark@boyersyn.com