AeroVironment Bags $8.5M US DoD Foreign Military Sales Contract

AeroVironment, Inc. (NASDAQ:AVAV) recently received a ~$8.54 million firm-fixed-price U.S. Department of Defense Foreign Military Sales (FMS) contract award.
Under the contract, AeroVironment will provide Puma 3 AE small unmanned aircraft systems (UAS), initial spares packages, training, and support to an allied nation. Delivery is anticipated by November 2022.
AeroVironment’s Puma 3 AE delivers mission-critical intelligence, surveillance, and reconnaissance (ISR) in all environments. Puma 3 AE is launchable by hand, bungee, rail, or vehicle and recoverable by deep-stall landing.
Price Action: AVAV shares closed higher by 1.00% at $60.76 on Tuesday.