AeroVironment Says US Issued Stop Work Order for Delivery of Badger Phased Array Antenna Systems

MT Newswires Live

01/20

AeroVironment (AVAV) said in a regulatory filing Tuesday that upon mutual agreement, the US government issued a stop work order for the delivery of Badger phased array antenna systems under the Satellite Communication Augmentation Resource, or SCAR, program.

The stop work order allows the parties to negotiate an amended agreement for the future of the SCAR program, the company said in an 8K filing with the US Securities and Exchange Commission, adding that the amendment is expected to result in a firm-fixed price agreement.

Shares of the company were down over 3% in recent Tuesday trading.

Price: 378.86, Change: -14.00, Percent Change: -3.56

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