Here is a little more from the press release.




SIOUX FALLS, S.D., Oct. 14 /PRNewswire-FirstCall/ -- Aerostar International, Inc., a wholly owned subsidiary of Raven Industries, Inc. (Nasdaq: RAVN), announced today that it has been awarded $12.2 million under a five-year, IDIQ (indefinite delivery indefinite quantity) contract for the production of US Army T-11 personnel parachutes. The parachutes under this first order are expected to ship during the fiscal year beginning February 2010. The contract is expected to have annual releases that will continue through 2014.



Ronald M. Moquist, chief executive officer, stated, "There were seven companies competing for this contract and we are pleased to be one of the three companies awarded a piece of this business. It speaks volumes about our ability to deliver and continue to procure contracts in the Aerostar division.



"We expect to start manufacturing the parachutes this winter and start shipping product in the first quarter. This is an indefinite delivery and indefinite quantity contract, meaning that although we have secured an order for the first year and expect annual reorders, the magnitude of the entire contract can vary. This contract comes at a good time for Aerostar as our MC-6 contract should be completed during the fourth quarter of this fiscal year, which ends in January. There are a number of common components between the T-11 and the MC-6, which should help us control start up costs on the new contract. The $12 million produced over the next year from T-11 will replace the MC-6 revenue and help Aerostar's operating income, margins and overall profitability," continued Mr. Moquist.