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AeroVironment, Inc. (NASDAQ: AVAV) is a pioneering company with over 45 years of innovation in the fields of security, energy, and infrastructure management. The company's primary focus is on providing actionable intelligence through its advanced unmanned aircraft systems (UAS), tactical missile systems, and high-altitude pseudo-satellites. AeroVironment stands out as the largest supplier of small UAS to the Pentagon and numerous allied nations.
AeroVironment's breakthrough products give users the ability to gain critical situational awareness. These sophisticated 'eyes in the sky' are crucial for intelligence, reconnaissance, and surveillance. The company's UAS have proven indispensable on the battlefield, saving countless lives by providing real-time intelligence to troops. Similarly, on the home front, these systems promise significant benefits in areas such as disaster response, law enforcement, and infrastructure monitoring.
Operating under a single business segment, AeroVironment caters primarily to government agencies within the United States Department of Defense and allied international governments. The company's offerings include a range of unmanned systems designed to enhance security, facilitate surveillance, and provide robust sensing capabilities. This allows for extensive monitoring without requiring a human presence in potentially dangerous situations.
Recent achievements highlight AeroVironment's commitment to innovation and excellence. The company regularly collaborates with various defense and government agencies to develop and deploy cutting-edge technology solutions. Financially, AeroVironment has shown strong performance, driven by growing demand for their advanced systems and services. Its strategic partnerships and continuous investment in research and development ensure that AeroVironment remains at the forefront of the unmanned systems industry.
AeroVironment, Inc. (NASDAQ: AVAV) announced that Steven A. Gitlin, the chief marketing officer and vice president of investor relations, will present at the 16th Annual Needham Virtual Technology & Media Conference on May 19, at 10:30 a.m. PT / 1:30 p.m. ET. A live video webcast of the presentation will be available on the company's website, with a replay accessible for 90 days. As a leader in multi-domain robotic systems, AeroVironment celebrates 50 years of innovation, serving defense, government, and commercial customers.
AeroVironment (NASDAQ: AVAV) announced the election of Wahid Nawabi as Chairman of the Board, effective at the 2021 annual meeting, succeeding Tim Conver, who is retiring. Nawabi, who has been with the company since 2011 and CEO since 2016, brings a track record of leadership with three consecutive years of double-digit revenue growth. Tim Conver has been pivotal in transforming AeroVironment into a leader in unmanned aircraft systems and tactical missile systems, growing revenues from $10 million to $264 million by fiscal year 2016.
AeroVironment (NASDAQ: AVAV) has completed the acquisition of Telerob for $45.4 million, which will enhance its portfolio of intelligent robotic systems. This acquisition includes the payoff of Telerob's debt amounting to approximately $9.4 million. Telerob, a leader in ground robotic solutions, offers advanced unmanned ground vehicles (UGVs) for critical missions, expanding AeroVironment's capabilities in both air and ground operations.
AeroVironment (NASDAQ: AVAV) announced that Steven A. Gitlin, chief marketing officer and vice president of investor relations, will present at the 2021 Virtual Wells Fargo Industrials Conference on May 5 at 11:40 a.m. PT / 2:40 p.m. ET. A live audio webcast of the presentation will be available on the AeroVironment website, with a replay for 30 days thereafter.
AeroVironment is recognized for its innovation in unmanned aircraft systems and tactical missile systems, serving global defense, government, and commercial customers.
AeroVironment (NASDAQ: AVAV) has secured a $26.12 million contract from the United States Special Operations Command to integrate its Switchblade 600 missile systems into maritime platforms, with $7.16 million funded upfront. This contract emphasizes the company's commitment to modernizing tactical capabilities for counterinsurgency and peer adversary operations. The Switchblade 600 features advanced reconnaissance, surveillance, and engagement capabilities, designed for minimal collateral damage. The project is set for completion by January 2023.
AeroVironment, Inc. (NASDAQ: AVAV) has secured a significant contract from the U.S. Army, valued at $13,010,560, for contractor logistics support of its Switchblade® 300 tactical missile systems. This cost-plus-fixed-fee contract order, awarded on March 24, 2021, reinforces AeroVironment's position as a leader in unmanned aircraft systems (UAS) and highlights its commitment to supporting military operations with advanced technology.
AeroVironment (NASDAQ: AVAV) announced that the U.S. Army exercised an option for additional Switchblade® 300 tactical missile systems, valued at approximately $44.96 million, raising the total contract value to $122.52 million. Deliveries are expected over two years. This option was awarded on March 16, 2021, and will be managed by the U.S. Army Contracting Command and the Department of Defense Foreign Military Sales program. The Switchblade 300 offers enhanced capabilities for rapid deployment and precision strikes, emphasizing minimal collateral damage.
AeroVironment, Inc. (NASDAQ: AVAV) received orders totaling $11,527,074 from NATO Support and Procurement Agency for Puma™ 3 AE tactical UAS and spares. These orders are part of a three-year contract with a potential $80 million value for tactical UAS support across NATO nations. The Puma 3 AE is engineered for real-time intelligence and has a wingspan of 9.2 feet, weight of 15 pounds, and can operate for up to 2.5 hours. Deliveries are expected by June 2021.
AeroVironment (NASDAQ:AVAV) announced that Chairman Timothy E. Conver is implementing a pre-arranged stock trading plan to sell shares held by The Conver Family Trust and C5 Holdings LLC. This plan complies with Rule 10b5-1, allowing insider trading for diversification and liquidity without possessing non-public information. The Trust plans to sell up to 350,000 shares, while C5 may sell up to 150,000 shares over approximately six months. Following these sales, Mr. Conver will retain about 868,704 shares, or 3.5% of the company, starting in April 2021.
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