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AeroVironment Receives $8.4 Million Order for Digital Raven Systems

Dépèche transmise le 24 mai 2011 par Business Wire

AeroVironment Receives $8.4 Million Order for Digital Raven Systems

MONROVIA, Calif.--(BUSINESS WIRE)--AeroVironment, Inc. (NASDAQ:AVAV) today announced that it received a firm-fixed-price contract order valued at $8,373,995 under a follow-on contract with the U.S. Army. The order comprises new digital Raven® small unmanned aircraft systems (SUAS) and initial spares packages.

“…The Raven SUAV (small unmanned aerial vehicle) is an invaluable combat tested and proven asset to small unit combat operations.”

A November 2010 article from the U.S. Department of Defense website “Armed with Science” (http://science.dodlive.mil/2010/11/09/the-little-plane-that-could/) describes how the Army’s Second Heavy Brigade Combat Team (2HBCT), “The Spartan Brigade,” employed the Raven system to reduce enemy attacks on U.S. forces. “…The Raven SUAV (small unmanned aerial vehicle) is an invaluable combat tested and proven asset to small unit combat operations.”

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. Each Raven system typically consists of three aircraft, two ground control stations and spares.

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.

AeroVironment is a technology solutions provider that designs, develops, produces and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and electric transportation solutions. Agencies of the U.S. Department of Defense and allied military services use the company’s battery-powered, hand-launched unmanned aircraft systems extensively to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance and communication. Multiple government agencies have funded the development and demonstration of Global Observer, a hybrid-electric, stratospheric UAS designed to provide affordable, persistent reconnaissance and communication over any location on the globe. Switchblade is a small UAS designed to provide a rapid, lethal, pinpoint precision strike capability with minimal collateral damage. AeroVironment’s electric transportation solutions include a comprehensive suite of electric vehicle (EV) charging systems and installation 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; 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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