Key Developments For AeroVironment, Inc.
AeroVironment, Inc. (AVAV.O) (Nasdaq)
AeroVironment, Inc. Reiterates FY 2010 Revenue Outlook-Conference Call
AeroVironment, Inc. announced that for fiscal 2010, it continues to expect revenue growth of 18% to 22%. The Company reported revenue of $247.66 million for fiscal 2009. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $293.67 million for fiscal 2010.
AeroVironment, Inc. Wins U.S. Patent for Electric Vehicle Energy Data Management and Control
AeroVironment, Inc. anounced that it has been granted a patent by the United States Patent and Trademark Office for technology that facilitates the optimal charging, management, control and maintenance of battery packs, chargers and electric vehicles (EVs). Patent No. 7,444,192 builds on AV`s intellectual property portfolio in its Efficient Energy Systems business segment.
DARPA Awards AeroVironment, Inc. Phase II Contract Extension For Nano Air Vehicle Development Program
AeroVironment, Inc. announced that it was awarded a Phase II contract extension in April from the Defense Advanced Research Projects Agency (DARPA) to design and build a flying prototype for the Nano Air Vehicle (NAV) program. As part of this program AV has accomplished a technical milestone never before achieved: the controlled hovering flight of an air vehicle system with two flapping wings that carries its own energy source and uses only the flapping wings for propulsion and control. The Phase II, $2.1 million NAV extension contract is scheduled to continue through summer 2010.
AeroVironment, Inc. Issues FY 2010 Revenue Outlook Above Analysts' Estimates
AeroVironment, Inc. announced that for fiscal 2010, it expects revenue growth of 18% to 22% over fiscal year 2009. The Company reported revenue of $247.66 million for fiscal 2009. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $290.62 million for fiscal 2010.
AeroVironment, Inc. Receives Order For Third Global Observer Aircraft Under Joint Capability Technology Demonstration Program
AeroVironment, Inc. announced that U.S. government agencies funding the Global Observer Joint Capability Technology Demonstration (JCTD) program have exercised an option for the assembly of a third Global Observer aircraft and additional items. There have been six contract options exercised since the program was initiated, resulting in a cumulative value of more than $120 million in program funding. The order for the third aircraft comes at the midpoint of the JCTD and follows a series of milestones in design, development and testing of the Global Observer system, including the successful Preliminary Design Review and Critical Design Review.
