AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems for both defense and commercial applications, today announced it received a $3,228,856 firm-fixed-price contract on Sept. 14, 2018 from the U.S. Department of Defense to provide RQ-20B Puma AE II small unmanned aircraft systems, training and support to an allied nation in the U.S. Indo-Pacific Command (INDOPACOM) area of responsibility. Delivery is anticipated by March 30, 2019.
The vast, diverse landscape of the INDOPACOM area of operation demands small unmanned aircraft systems that can support ground, riverine and maritime operations effectively, said Kirk Flittie, vice president and general manager of AeroVironments Unmanned Aircraft Systems business. The combat-proven Puma has demonstrated its unique effectiveness in a wide range of operating environments, from mountains to deserts, from the Arctic to Antarctica, on land and on the open ocean, delivering actionable intelligence to help customers proceed with certainty.
AeroVironments family of small drones comprise the majority of all unmanned aircraft in the U.S. DoD inventory and its rapidly growing international customer base numbers more than 45 allied governments. This contract is a good example of the additional procurement potential among our international customers, said Flittie.
The AeroVironment Puma is designed for land-based and maritime operations. Capable of landing in water or on the ground, the all-environment Puma, with its Mantis i45 sensor suite, empowers the operator with extended flight time and a level of imaging capability never before available in the small UAS class.
About AeroVironment Small UAS
The RQ-11B Raven, RQ-12 Wasp and RQ-20A/B Puma„¢ comprise AeroVironments 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 45 allied governments.
AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information visit www.avinc.com.
Safe Harbor Statement
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as believe, anticipate, expect, estimate, intend, project, plan, or words or phrases with similar meaning. Forward-looking statements are based on 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 the forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, reliance on sales to the U.S. government; availability of U.S. government funding for defense procurement and R&D programs; changes in the timing and/or amount of government spending; risks related to our international business, including compliance with export control laws; potential need for changes in our long-term strategy in response to future developments; unexpected technical and marketing difficulties inherent in major research and product development efforts; the impact of potential security and cyber threats; changes in the supply and/or demand and/or prices for our products and services; the activities of competitors and increased competition; failure of the markets in which we operate to grow; uncertainty in the customer adoption rate of commercial use unmanned aircraft systems; failure to remain a market innovator and create new market opportunities; changes in significant operating expenses, including components and raw materials; failure to develop new products; the extensive regulatory requirements governing our contracts with the U.S. government; product liability, infringement and other claims; changes in the regulatory environment; 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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