AeroVironment Receives $4.3 Million Award and $7.1 Million Option for Switchblade Tactical Missile System Support Services
December 04 2014 - 9:10AM
Business Wire
- Award increased funded contract value
to $63.8 million
- Switchblade systems continue to protect
American forces
AeroVironment, Inc. (NASDAQ:AVAV) today announced the receipt of
a $4.3 million cost plus fixed fee award and $7.1 million option on
September 25, 2014 for Switchblade® tactical missile system support
services from the United States Army Close Combat Weapons Systems
office. The award increased the funded value of an existing
contract for Switchblade tactical missile systems to $63.8 million.
In addition, options totaling $38.3M increased the total contract
ceiling to $102.1 million.
United States Army awards support
services contract and option to AeroVironment for Switchblade
Tactical Missile System (Photo: Business Wire)
The award and option provided for the continuation of services
to support American forces through training, refurbishments and
project management support.
“Switchblade is a game changing capability that continues to
protect American troops and give them major advantages on the
battlefield,” said Roy Minson, AeroVironment senior vice president
and general manager of its Unmanned Aircraft Systems business
segment. “Switchblade enables our forces to work within the rules
of engagement to neutralize lethal threats through its unique
portability, precision, rapid deployment and collateral damage
avoidance capabilities.”
“Wherever our troops operate, they deserve to be equipped with
the most effective, practical tools that protect and empower them.
Switchblade has proven itself up to the task,” he added.
ATK is a key contributor supporting AeroVironment on the
Switchblade program. ATK is an aerospace, defense and outdoor
sports and recreation company with operations in 21 states, Puerto
Rico and internationally.
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.
For additional media and information, please follow us at:
Facebook:
http://www.facebook.com/#!/pages/AeroVironment-Inc/91762492182Twitter:
http://www.twitter.com/aerovironmentYouTube:
http://www.youtube.com/user/AeroVironmentIncGoogle+:
https://plus.google.com/100557642515390130818/posts
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20141204005260/en/
AeroVironment, Inc.Steven Gitlin, 626-357-9983pr@avinc.comorFor
AeroVironment, Inc.Mark Boyer,
310-229-5956mark@boyersyndicate.com
AeroVironment (NASDAQ:AVAV)
Historical Stock Chart
From Aug 2024 to Sep 2024
AeroVironment (NASDAQ:AVAV)
Historical Stock Chart
From Sep 2023 to Sep 2024