AeroVironment Reaps $51.4 Million in Switchblade UAV Contracts in 9 Days

uav-aerovironment-switchblade-agile-munition-systems-lg

By Rich Smith

The contracts just keep coming in for military contractor AeroVironment (NASDAQ: AVAV  ) .

On Aug. 28, the maker of unmanned aerial vehicles announced that it had received an award to supply the Army with $15.8 million worth of Switchblade drones. One week later, the Pentagon announced that it was giving the company a follow-on contract to produce $6.6 million more worth of Switchblades.

Thursday’s list of new contracts awarded by the Pentagon contained an additional award for Switchblade UAV production, and this one was bigger than the two previous orders combined.

Worth $29 million, Thursday’s contract modification calls on AeroVironment to supply the Army with Switchblade Agile Munitions Systems and associated hardware and support services. So the tally for the past nine days for AeroVironment now stands at a grand total of $51.4 million.

http://www.fool.com/investing/general/2013/09/06/aerovironment-reaps-514-million-in-switchblade-uav.aspx