Large Contract Win for AeroVironment (AVAV)

AeroVironment (AVAV) is roughly a $300M revenue company so this news is very good... 1 contract alone is worth greater than 10% of revenue estimate and within a 12 month span. A nice positive in a murky market.

• AeroVironment, Inc. (AV) (NASDAQ:AVAV - News) today announced that the U.S. Army has ordered additional RQ-11B Raven® small unmanned aircraft systems (UAS) and associated services for its fiscal year 2009 requirements by the exercise of an option under an existing contract. Each Raven® system typically consists of three aircraft, two ground control stations, and spares. The aggregate order value is $41.7 million and is fully funded. The items and services provided under this award on this multi-year contract are scheduled to be delivered over the next 12 months.
• AV’s Raven® system 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. and allied armed forces use Ravens extensively for missions such as base security, route reconnaissance, mission planning and force protection.