AeroVironment: Fiscal 2Q Earnings Snapshot
SIMI VALLEY, Calif. (AP) _ AeroVironment Inc. (AVAV) on Tuesday reported fiscal second-quarter earnings of $7.5 million.
On a per-share basis, the Simi Valley, California-based company said it had net income of 31 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to 34 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The maker of unmanned aircrafts posted revenue of $83.3 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $80.1 million.
AeroVironment expects full-year earnings in the range of $1.47 to $1.67 per share, with revenue in the range of $350 million to $370 million.
AeroVironment shares have fallen roughly 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $64.61, a decline of 12% in the last 12 months.