Benzinga | Dec 1, 2021 02:59PM EST

AeroVironment Secures $4M Military Sales Contract For US Ally

* AeroVironment, Inc. (NASDAQ:AVAV) disclosed the receipt of a ~$4.15 million firm-fixed-price U.S. Department of Defense Foreign Military Sales contract award on September 27, 2021.

* The company will provide an allied nation with Puma 3 AE and Wasp AE small unmanned aircraft systems, initial spares packages, training, and support. Delivery is anticipated by September 2022.

* AeroVironment's Puma 3 AE unmanned aircraft system is designed for land and maritime operations. The hand-launched Puma 3 AE has a wingspan of 9.2 feet, weighs 15 pounds, and can operate for up to 2.5 hours.

* Wasp AE is a lightweight, man-packable UAS that weighs just over a kilogram and delivers capabilities for an unmanned aircraft system of its size.

* Price Action: AVAV shares are trading lower by 1.25% at $79.75 on the last check Wednesday.