AeroViroment, Inc. (NASDAQ:AVAV) shares are trading higher on Monday after the company announced a $240 million space long-haul laser communication order.
What To Know: AeroVironment said it received a nearly $240 million order for its long-haul laser communications terminals from an undisclosed customer who will deploy the systems on orbit.
The company said its terminals have demonstrated multi-orbit, space-to-space satellite crosslink capabilities while operating in challenging conditions such as jitter, extreme temperatures and the absence of atmosphere. The systems are designed to transfer high-bandwidth data securely and at faster rates across longer distances, including LEO, MEO and GEO orbits.
Mary Clum, Executive Vice President of the Space and Directed Energy Group, said the contract "moves our superior, next-generation long-haul laser communication terminals from the lab to orbit," marking a milestone for the company and commercial space capabilities.
AeroVironment noted that it successfully demonstrated its long-haul, multi-orbit laser communication system in March and announced its readiness for orbit manufacturing.
The company said its terminals are suitable for satellite bus providers, offering longer range, greater accuracy and higher reliability for free-space optical communications.
AeroVironment is expected to release first quarter earnings today after the market closes. Analysts estimate earnings per share of 34 cents and revenue of $439.48 million.
AVAV Price Action: AeroVironment shares closed Monday 4.79% higher at $236.491, according to data from Benzinga Pro.
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