AeroVironment, Inc.
Sep 30, 2014

U.S. Army Awards AeroVironment $27.2 Million for RQ-11B Raven and RQ-20A Puma Spare Parts

MONROVIA, Calif.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV) today announced it received three firm fixed-price orders from the United States Army totaling $27,178,075 for RQ-11B Raven® and RQ-20A Puma AE™ unmanned aircraft systems (UAS) spare parts. The company received two orders on August 29, 2014 and one on September 18, 2014. Delivery is anticipated within 12 months.

AeroVironment's Puma AE Unmanned Aircraft System (Photo by SGT. Mike MacLeod 1st Brigade Combat Team ...

AeroVironment's Puma AE Unmanned Aircraft System (Photo by SGT. Mike MacLeod 1st Brigade Combat Team, 82nd Airborne Division Public Affairs)

The latest orders increase the total value of orders for Raven and Puma AE UAS spare parts and Raven upgrades received since May 2014 to $77.6 million.

"Recapitalizing the Army's large fleet of Raven and Puma AE systems ensures that soldiers have the most effective and reliable small UAS available to support them, wherever and whenever required," said Roy Minson, senior vice president and general manager of AeroVironment's UAS business segment. "With AeroVironment-original spare parts and upgrades, operators can continue to rely on our combat-proven solutions to deliver better information, on-demand, and help them operate more safely and effectively."

About AeroVironment Small UAS

RQ-11B Raven, RQ-12 Wasp™, RQ-20A Puma and Shrike VTOL™ 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 can 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 provide significant force protection and force multiplication benefits to small tactical units and security personnel. AeroVironment provides logistics services worldwide to ensure a consistently high level of operational readiness and provides mission services for customers requiring only the information its small UAS produce. AeroVironment has delivered thousands of new and replacement small unmanned air vehicles to customers within the United States and to more than 30 international governments.

The Puma AE small UAS comprises one component of AeroVironment's advanced, turnkey data collection, processing and delivery solution employed to provide commercial customers with engineering-quality information, on-demand, across multiple industries such as oil & gas, agriculture, mining and others. The Qube™ small UAS is tailored to law enforcement, first response and other public safety missions. Small enough to fit easily in the trunk of a car, the Qube system can be unpacked, assembled and ready for flight in less than five minutes, giving the operator a rapidly deployable eye in the sky at a fraction of the cost of manned aircraft and large unmanned aircraft.

About AeroVironment

AeroVironment is a technology solutions provider that designs, develops, produces, supports and operates an advanced portfolio of Unmanned Aircraft Systems (UAS) and electric transportation solutions. The company's electric-powered, hand-launched unmanned aircraft systems generate and process data to deliver powerful insight, on-demand, to people engaged in military, public safety and commercial activities around the world. Global Observer® is a hybrid-electric, stratospheric UAS designed to provide affordable, persistent reconnaissance and communication over any location on the globe. The Switchblade tactical missile system enables the infantry squad and other customers with increased lethality, reach and force protection through its rapid deployment, direct fire and collateral damage avoidance capabilities. AeroVironment's electric transportation solutions include a comprehensive suite of electric vehicle (EV) charging systems, installation and network services for consumers, automakers, utilities and government agencies, power cycling and test systems for EV developers and industrial electric vehicle charging systems for commercial fleets. More information about AeroVironment 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; our reliance on sales to the U.S. government; changes in the timing and/or amount of government spending; changes in the supply and/or demand and/or prices for our products and services; 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, including our most recent Annual Report on Form 10-K and Quarterly Reports on 10-Q. 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 media and information: 

Defense Video & Imagery Distribution System (dvids) Puma AE b-roll: http://www.dvidshub.net/video/136494/uav - .VCn6BkhyVyl

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AeroVironment, Inc.
Steven Gitlin
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or
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For AeroVironment, Inc.
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Source: AeroVironment, Inc.

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