AeroVironment Receives $23.9 Million Order for Army and Marine Corps Digital Raven Systems and Digital Upgrade Kits
AeroVironment Receives $23.9 Million Order for Army and Marine Corps Digital Raven Systems and Digital Upgrade Kits
December 21, 2009 at 12:00 AM EST
MONROVIA, Calif., Dec 21, 2009 (BUSINESS WIRE) -- 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.
About AV's Small UAS
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
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Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6125411&lang=en
SOURCE: AeroVironment, Inc.
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
pr@avinc.com
or
Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
mark@boyersyn.com
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.
About AV's Small UAS
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
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6125411&lang=en
SOURCE: AeroVironment, Inc.
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
pr@avinc.com
or
Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
mark@boyersyn.com