AeroVironment says GAO denied protest of Army’s Switchblade award

In a regulatory filing earlier, AeroVironment (AVAV) reported that the U.S. Government Accountability Office has denied the protest filed on September 6, which challenged the U.S. Department of the Army’s award of an indefinite delivery, indefinite quantity contract with a ceiling value of $990M on a sole source basis to AeroVironment related to the company’s Switchblade systems. “The company intends to fulfill its obligations under the contract and any delivery orders issued thereunder throughout the term of the contract,” AeroVironment stated. AeroVironment shares are up $13.19, or 8%, to $169.69 in early afternoon trading following the disclosure.