AeroVironment: Fiscal 1Q Earnings Snapshot
MONROVIA, Calif. (AP) _ AeroVironment Inc. (AVAV) on Wednesday reported fiscal first-quarter net income of $27.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Monrovia, California-based company said it had net income of $1.14. Earnings, adjusted to account for discontinued operations and non-recurring gains, came to 59 cents per share.
The maker of unmanned aircrafts posted revenue of $78 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $75.6 million.
AeroVironment expects full-year earnings to be $1.10 to $1.40 per share, with revenue in the range of $290 million to $310 million.
AeroVironment shares have increased 56 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $87.50, a rise of 74 percent in the last 12 months.