AeroVironment Inc. has received a $19 million contract to continue development of an unmanned aircraft for the U.S. Navy and Marine Corp. The contract allows AeroVironment to continue a program started in September 2013 for the Defense Advanced Research Projects Agency. The first contract the company received was for $2.3 million. AeroVironment is based in Monrovia but designs, builds and tests its unmanned aircraft at a facility in Simi Valley. This newest aircraft would be launched and land on smaller naval ships for use in surveillance and reconnaissance. AeroVironment drones are typically used by ground-based military forces. “We look forward to demonstrating this new capability to help protect our naval forces and those of our allies affordably and effectively,” said Roy Minson, senior vice president and general manager of its UAS business segment, in a prepared statement. Shares closed up 60 cents, or more than 2 percent, to $28.85 on the Nasdaq. Trio-Tech International Inc. released positive fiscal fourth quarter results on Wednesday, citing strong results from its semiconductor manufacturing and testing-equipment businesses. The Van Nuys company reported net income of $282,000 (7 cents a share) for the quarter ended June 30, compared with $46,000 (1 cent) in the same period a year earlier. Revenue increased 10 percent to $9.4 million. “By focusing on our core businesses and working diligently to improve our operations, Trio-Tech’s semiconductor manufacturing equipment and semiconductor testing services business are running efficiently,” said Chief Executive S.W. Yong in a prepared statement. Shares closed up 27 cents, or more than 8 percent, to $3.55 on the New York Stock Exchange.
