Welcome to our dedicated page for AeroVironment news (Ticker: AVAV), a resource for investors and traders seeking the latest updates and insights on AeroVironment stock.
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 (NASDAQ: AVAV) announced its acquisition of Arcturus UAV for $405 million—$355 million in cash and $50 million in stock. This strategic move aims to enhance AeroVironment's capabilities in Group 2 and 3 unmanned aircraft systems (UAS), targeting over $1 billion in annual contracts. With a robust growth track record, Arcturus UAV will bolster AeroVironment's market position and broaden its customer base. The deal is projected to positively impact adjusted EBITDA and diluted earnings per share starting fiscal year 2022, closing by Q4 FY2021.
AeroVironment (NASDAQ: AVAV), a leader in unmanned aircraft systems, announced that Steven A. Gitlin, CMO and VP of Investor Relations, will present at the Needham Virtual Growth Conference on January 14, 2021, at 12:30 p.m. PT / 3:30 p.m. ET. A live audio webcast of the presentation will be accessible on AeroVironment's website, with a replay available for 90 days. Celebrating 50 years of innovation, AeroVironment serves defense, government, and commercial customers with advanced technology solutions.
AeroVironment (NASDAQ: AVAV) has launched the Extended Range Antenna (ERA), enhancing its unmanned aircraft systems (UAS) capabilities. The ERA allows for command and control range expansion up to 40 kilometers (24.9 miles) while maintaining a compact size. Users can switch between omnidirectional and extended range modes, supporting critical missions with enhanced stealth and safety. This product complements AeroVironment's existing connectivity solutions, which include various antennas catering to different operational ranges and frequency bands.
AeroVironment (NASDAQ: AVAV) reported a 11% revenue increase to $92.7 million for Q2 fiscal 2021, despite COVID-19 challenges. Non-GAAP EPS rose to $0.48, while GAAP EPS fell to $0.09 due to an $8.4 million impairment in its HAPSMobile joint venture. AeroVironment announced the acquisition of Telerob for approximately $45.4 million, anticipated to enhance its robotics portfolio. Funded backlog declined to $130.6 million. The company maintains a revenue forecast of $390-$410 million for fiscal 2021, with adjusted EPS guidance between $1.28 and $1.48.
AeroVironment (NASDAQ: AVAV) has announced its acquisition of Telerob Gesellschaft für Fernhantierungstechnik mbH for approximately $45.4 million in cash, with an additional earn-out of $7.3 million based on performance milestones. Telerob, renowned for its advanced unmanned ground vehicle solutions, complements AeroVironment's capabilities in delivering intelligent robotic systems. The acquisition is expected to enhance AeroVironment's market position and broaden its mission offerings, particularly in defense and security sectors. This transaction is projected to be accretive to earnings within two years.
AeroVironment (NASDAQ: AVAV) will announce its financial results for Q2 ended October 31, 2020, after market close on December 8, 2020. The management team, including CEO Wahid Nawabi and CFO Kevin P. McDonnell, will discuss results in a conference call at 1:30 PM PT. Interested investors can listen via the company's Investor Relations website or dial in using provided numbers. An audio replay will be available from December 8 to December 15, 2020. AeroVironment is a leader in unmanned aircraft systems, providing technology solutions to defense and commercial sectors.
AeroVironment, Inc. (NASDAQ: AVAV), a leader in unmanned aircraft systems, announces participation at the Baird Global Industrial Conference on November 12, 2020. CEO Wahid Nawabi, CFO Kevin McDonnell, and CMO Steven Gitlin will present virtually at 12:45 p.m. PT. A live audio webcast will be accessible on the AeroVironment website, with a replay available for 90 days. The company continues to provide innovative technology solutions in robotics and analytics, serving defense, government, and commercial sectors.
AeroVironment (NASDAQ: AVAV) has secured an $8.37 million firm-fixed-price contract from the U.S. Department of Defense for the Puma™ 3 AE tactical unmanned aircraft system, including training and support, for an allied nation. Delivery is expected by March 2021. The Puma 3 AE features a wingspan of 9.2 feet, weighs 15 pounds, and can operate for up to 2.5 hours at a range of 20 kilometers.
AeroVironment (NASDAQ: AVAV) announced that its Sunglider solar-powered high-altitude pseudo-satellite has reached significant milestones, including an altitude of over 60,000 feet and successful mobile broadband communication. The flight, conducted on September 21-22, lasted over 20 hours and involved tests of propulsion, navigation, and communication systems. Funded by HAPSMobile Inc., a joint venture with SoftBank, the Sunglider can carry payloads of up to 150 pounds and is powered by solar energy, highlighting its potential for long-duration missions.
AeroVironment (NASDAQ: AVAV) has launched its new Switchblade 600 loitering missile system, expanding its offerings alongside the Switchblade 300. The U.S. Army has awarded a $76 million contract for Switchblade 300 under the Lethal Miniature Aerial Missile System (LMAMS) program. The Switchblade 600, weighing 50 pounds, can engage larger hardened targets from extended ranges and operates within 10 minutes of deployment. AeroVironment emphasizes the system's precision and minimal collateral damage, catering to evolving military requirements and enhancing battlefield efficacy.
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