AeroVironment: Fiscal 4Q Earnings Snapshot
SIMI VALLEY, Calif. (AP) _ AeroVironment Inc. (AVAV) on Tuesday reported fiscal fourth-quarter profit of $5.7 million.
The Simi Valley, California-based company said it had profit of 24 cents per share. Earnings, adjusted to account for discontinued operations, were 26 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The maker of unmanned aircrafts posted revenue of $87.9 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $83.8 million.
For the year, the company reported profit of $47.4 million, or $1.97 per share. Revenue was reported as $314.3 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 dropped almost 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $61.31, an increase of slightly more than 5% in the last 12 months.