AeroVironment, Inc. Announces Fiscal 2012 Second Quarter Results

MONROVIA, Calif., Dec 06, 2011  AeroVironment, Inc. AVAV -0.22% today reported financial results for its second quarter ending October 29, 2011. “Continued demand for our unmanned aircraft and efficient energy systems, combined with effective execution by our team, produced second quarter revenue of $80.4 million, a year-over-year increase of 26%, and earnings per diluted share of $0.30, up from $0.01 a year ago,” said Tim Conver, AeroVironment chairman and chief executive officer. “Backlog of $116.4 million is up 60% quarter-over-quarter and, combined with first half revenue of $142 million, provides good visibility into 75% of our full year performance guidance,” said Tim Conver. Conver added, “Our small unmanned aircraft systems remain high value tools that directly empower the warfighter at a fraction of the cost of larger systems. Continued expansion of our electric vehicle solutions rollout and the first announced deployment order for Switchblade agile munitions systems in September highlight the continued progress of two potentially significant long-term growth drivers for the business. Even with the funding uncertainty affecting U.S. government procurement today, I am excited about AeroVironment’s value proposition and our long-term growth prospects.” FISCAL 2012 SECOND QUARTER RESULTS Revenue for the second quarter of fiscal 2012 was $80.4 million, up 26% […]
AeroVironment, Inc. Announces Fiscal 2012 Second Quarter Results